Substitute Al-Othman leads Al-Qadsiah to a crucial victory against Al-Khaleej    Ronaldo's double powers Al-Nassr to a 2-0 victory over Damac    Minister Al-Samaani inaugurates technical office to enhance judicial quality in Qassim    Riyadh Metro ticket prices starts at SR4    Saudi Arabia's R&D expenditure hits SR22.61 billion in 2023    Saudi Arabia, Comoros strengthen economic ties with new MoU    Saudi Arabia retains its seat on OPCW Executive Council    Saudi Transport Authority cracks down on foreign trucks violating rules    Saudi Arabia receives extradited citizen wanted for corruption crimes from Russia    Ukraine fights to keep the lights on as Russia hammers power plants    Indian airlines hit by nearly 1,000 hoax bomb threats    Sweden asks China to cooperate over severed cables    Childcare worker who abused more than 60 girls jailed for life    K-Pop group NewJeans split from agency in mistreatment row    Defending the Truth: Saudi Arabia and the 2034 World Cup    Culture minister visits Diriyah Art Futures    GCC Preparatory Ministerial Meeting discusses developments in Gaza and Lebanon    Al Taawoun seals AFC Champions League Two knockout spot with 2-1 win over Al Khaldiya    Best-selling novelist Barbara Taylor Bradford dies    Adele doesn't know when she'll perform again after tearful Vegas goodbye    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







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Oil jumps on expectation recession fears overblown
Singapore Published in Saudi Press Agency on 17 - 10 - 2008

Oil prices jumped above US$72 a barrel Friday in Asia from a 14-month low as investors bet fears that a severe global recession will devestate crude demand may be overblown, AP reported.
Oil has fallen by about half since reaching a record US$147.27 on July 11.
Light, sweet crude for November delivery was up US$3.02 to US$72.87 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore. The contract dropped overnight US$4.69 to settle at $69.85, the lowest settlement price since Aug. 23, 2007.

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