Brent crude slipped toward $110 per barrel on Tuesday as demand concerns moved into focus after weak manufacturing data from the United States, the world's top oil consumer, while its uncertain fiscal deficit negotiations also kept investors on the edge.
Gold edged lower on Tuesday as the uncertainty about the US budget talks kept investors on the edge, offsetting positive news from debt-laden Europe that helped keep the euro steady near its highest level in more than one month.
Iraq's oil exports fell to 2.62 million barrels per day (bpd) in November from 2.622 million bpd the previous month, the oil ministry said on Tuesday.
Saudi Arabia will need to invest over 500 billion riyals ($133 billion) over the next 10 years to meet rapidly rising power demand, Saudi Water and Electricity Minister Abdullah al-Hussayen said late on Sunday.
Politics
Kuwait’s ruler accepted the government’s resignation on Monday, the state news agency KUNA said, a step designed to make way for a new cabinet in the Gulf Arab state after parliamentary elections boycotted by the opposition.
Israel says it will not give in to international pressure to halt plans for 3,000 new illegal settler homes in East Jerusalem and the West Bank.
Companies
Dana Gas has received $48 million in overdue payments for fuel supplied in Kurdistan, the United Arab Emirates based company said on Tuesday.
Goldman Sachs Inc has hired Omar Mohammady to run its Saudi Arabian investment banking business, a key role for global banks operating in the Gulf Arab region, three banking sources said.
