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  • Tension simmers on Iraqi street as food prices rise

    Already faced with chronic issues such as persistently high unemployment and a lack of access to basic services, Iraqis are now hit by skyrocketing prices for food staples. Observers blame the jump in prices on both the Russia-Ukraine war and endemic corruption. The rising consumer price inflation has sparked street protests in different parts of the country.

  • Israeli troops kill two Palestinians as violence simmers

    Violence in territories where Palestinians seek statehood has simmered since U.S.-sponsored peace talks stalled in 2014. It has flared again in recent weeks with fatal Palestinian attacks inside Israel and deadly Israeli raids.

  • SAGO has bought 89,290 tons of wheat from Saudi farmers

    Saudi Arabia’s state grains buyer (SAGO) procured 89,290 ton of wheat from local farmers so far, it said in a statement on Monday.

  • Glimmers of hope: Yemen’s rich history endures far from war – in pictures

    Photographer Tariq Zaidi travelled to the Hadhramaut and Al Mahrah regions of Yemen, where a ceasefire has allowed a kind of normality to return after years of conflict and unimaginable hardship

  • Is Saudi Arabia Quietly Trying to Help Europe’s Oil Consumers?

    In these circumstances, a marketing policy of maintaining sales into a weakening regional Asian market should see the Kingdom cutting its regional differentials relative to Europe and the U.S.  While Aramco’s European and American differentials have increased, they have not increased as rapidly as Asian differentials — especially for Arab “medium” — the Saudi crude that is the closest substitute for the main Russian export blend, Urals (see table above).

  • Is Saudi Arabia Quietly Trying to Help Europe’s Oil Consumers?

    Saudi Aramco’s global marketing organization — with offices in key cities throughout the world — follows regional oil market developments very closely, and this allows them to fine-tune differentials based on subtle regional shifts in market fundamentals.  For example, if Asia needs more diesel fuel, Aramco might price crudes that yield a higher share of diesel to be directed toward Asian markets.  It is an incredibly efficient and well-informed organization, allowing the Aramco to maximize revenues from its oil sales within the policy framework set by the Energy Minister.

  • Farmers Are Struggling to Keep Up Food Supply as Fertilizer Prices Surge

    In Brazil, the world’s biggest soybean producer, a 20% cut in potash use could bring a 14% drop in yields, according to industry consultancy MB Agro. In Costa Rica, a coffee cooperative representing 1,200 small producers sees output falling as much as 15% next year if the farmers miss even one-third of normal application. In West Africa, falling fertilizer use will shrink this year’s rice and corn harvest by a third, according to the International Fertilizer Development Center, a food security non-profit group.

  • Consumers Hit Back at Russia’s Invasion of Ukraine as Oil Exports Diminish

    The IEA’s release of over 60 million barrels of emergency oil stocks was the largest in IEA history. But there is increasing recognition of the need to coordinate such short-term measures with longer-term solutions.

  • EV Startup Rivian Walks Back Price Increase, Apologizes to Customers

    In a letter made public Thursday, Rivian Chief Executive RJ Scaringe apologized to customers for applying the price increase retroactively. He said the startup is trying to cope with rising costs of parts and materials, but it erred by applying price increases to existing orders rather than honoring the original terms.

  • Saudi Culture Ministry Delivers Immersive Cultural Spectacle at Saudi Cup

    For the second year on the trot, the Fashion Commission brought back the popular dress code created in collaboration with fashion heritage expert Dr. Laila Albassam and celebrated Saudi illustrator Norah Sahman. Guests embraced the theme of styles inspired by heritage costumes traditionally worn around the Kingdom, with some dressed and styled by designers from the Commission’s successful Saudi 100 Brands program.