Live updates: Follow the latest on Israel-Gaza
Oil prices were up nearly 2 per cent on Monday, recovering from a steep drop last week that was fuelled by China's efforts to boost its sluggish economy and by heightened tensions in the Middle East.
Brent, the benchmark for two thirds of the world's oil, was up 1.93 per cent at $74.47 a barrel at 3.23pm UAE time. West Texas Intermediate, the gauge that tracks US crude, was trading 2.28 per cent higher at $70.80 a barrel.
Crude prices recorded their biggest weekly loss in more than a month last week on a weakening crude demand outlook and reduced possibility of supply disruption in the Middle East
Brent fell by more than 7 per cent, while WTI dropped by about 8 per cent – bringing the benchmarks' losses to nearly 12 per cent and 15 per cent, respectively, ever since the Israel-Gaza war broke out more than a year ago.
Last week's drop was also the largest weekly decline since early September after the US reported weaker-than-expected jobs data in August, raising concerns about growth in the world's largest economy.
On Monday, oil prices had support from the decision by China's central bank to reduce two key interest rates to historic lows in an effort to shore up spending and demand. The People's Bank of China slashed the one-year and five-year loan prime rate by 25 basis points, a move widely expected but more than the 20 basis points expected by analysts.
Official data on Friday showed that the Chinese economy grew by 4.6 per cent in the third quarter, the slowest in six quarters.
Also on Friday, Beijing unveiled a 300 billion yuan ($42.2 billion) funding programme for share purchases to boost equities. More than 20 listed companies had announced their intention to tap into the facility as of Monday.
The moves have resulted in oil futures stabilising “to a certain extent” after last week’s sharp declines, but weak demand in China continues to weigh on market sentiment, Joseph Dahrieh, managing principal at brokerage Tickmill, wrote in a note on Monday.
“China’s economic slowdown, now at its weakest growth rate since early 2023, continues to dampen expectations for a quick recovery in oil demand, despite Beijing’s continuing stimulus efforts. This has kept prices under pressure as investors monitor whether China can boost its demand,” he said.
On Monday, Saudi Aramco chief executive Amin Nasser said in an energy conference in Singapore that the world's biggest oil-producing company is “fairly bullish” on Chinese demand, which is the world's second largest behind the US.
Meanwhile, tensions in the Middle East remain high. Israel, which has been at war with Hamas in Gaza and Hezbollah in Lebanon, has also threatened to strike Iran. Eighteen people were killed in Israeli air attacks and shelling across Gaza on Monday, according to the official Wafa news agency.
A large-scale regional conflict between Iran and Israel could significantly hinder gas exports and delay oil development projects, while attacks on key Iranian oil infrastructure would threaten nearly 1.4 million barrels per day of exports, Rystad Energy Middle East research director Aditya Saraswat said.
Also, US envoy Amos Hochstein arrived in Beirut on Monday in the latest push for a ceasefire between Israel and Hezbollah, planning to hold talks on Israel's conditions for a diplomatic solution to end its war on Lebanon, Israeli media reported.
“US President Joe Biden expressed his intention to negotiate with Israel and Iran to try to reduce tensions, which could bring temporary stability. However, the reality on the ground is different,” Antonio Di Giacomo a senior market analyst at XS.com, said in a note on Monday.
“Instability in the Middle East adds an unpredictable element that could lead to short- and medium-term price volatility. These factors force traders and analysts to remain cautious and attentive to any changes in these variables to understand how prices will behave.”
This month, Opec lowered its forecast for global oil demand growth in 2024 and 2025 for the third consecutive month, but is optimistic that China’s stimulus plan to revive its economy will support crude consumption.
The group lowered its oil demand growth forecast for this year by 106,000 barrels per day to 1.9 million bpd, citing slightly reduced expectations for crude consumption in several regions. Opec also revised its forecast for world oil demand growth for next year down by 102,000 bpd to 1.6 million bpd.
Company%20profile
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SM Town Live is on Friday, April 6 at Autism Rocks Arena, Dubai. Tickets are Dh375 at www.platinumlist.net
UAE currency: the story behind the money in your pockets
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
Pari
Produced by: Clean Slate Films (Anushka Sharma, Karnesh Sharma) & KriArj Entertainment
Director: Prosit Roy
Starring: Anushka Sharma, Parambrata Chattopadhyay, Ritabhari Chakraborty, Rajat Kapoor, Mansi Multani
Three stars
Going grey? A stylist's advice
If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”
Crazy Rich Asians
Director: Jon M Chu
Starring: Constance Wu, Henry Golding, Michelle Yeon, Gemma Chan
Four stars
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
UAE currency: the story behind the money in your pockets
Sreesanth's India bowling career
Tests 27, Wickets 87, Average 37.59, Best 5-40
ODIs 53, Wickets 75, Average 33.44, Best 6-55
T20Is 10, Wickets 7, Average 41.14, Best 2-12
Killing of Qassem Suleimani
Killing of Qassem Suleimani
Killing of Qassem Suleimani
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
MOTHER%20OF%20STRANGERS
%3Cp%3EAuthor%3A%20Suad%20Amiry%3Cbr%3EPublisher%3A%20Pantheon%3C%2Fp%3E%0A%3Cp%3EPages%3A%20304%3Cbr%3EAvailable%3A%20Now%3C%2Fp%3E%0A
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Hotel Silence
Auður Ava Ólafsdóttir
Pushkin Press
PAKISTAN v SRI LANKA
Twenty20 International series
Thu Oct 26, 1st T20I, Abu Dhabi
Fri Oct 27, 2nd T20I, Abu Dhabi
Sun Oct 29, 3rd T20I, Lahore
Tickets are available at www.q-tickets.com
Match info
Bournemouth 0
Liverpool 4 (Salah 25', 48', 76', Cook 68' OG)
Man of the match: Andrew Robertson (Liverpool)
MEYDAN RESULTS
6.30pm Baniyas (PA) Group 2 Dh125,000 (Dirt) 1,400m
Winner ES Ajeeb, Sam Hitchcock (jockey), Ibrahim Aseel (trainer).
7.05pm Maiden (TB) Dh165,000 (D) 1,200m
Winner Galaxy Road, Antonio Fresu, Musabah Al Muhairi.
7.40pm Maiden (TB) Dh165,000 (D) 1,400m
Winner Al Modayar, Fernando Jara, Ali Rashid Al Raihe.
8.15pm Handicap (TB) Dh170,000 (D) 1,900m
Winner Gundogdu, Xavier Ziani, Salem bin Ghadayer.
8.50pm Rated Conditions (TB) Dh240,000 (D) 1,600m
Winner George Villiers, Tadhg O’Shea, Satish Seemar.
9.25pm Handicap (TB) Dh175,000 (D)1,200m
Winner Lady Parma, Connor Beasley, Satish Seemar
10pm Handicap (TB) Dh165,000 (D) 1,400m
Winner Zaajer, Fernando Jara, Ali Rashid Al Raihe
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
Sunday's games
Liverpool v West Ham United, 4.30pm (UAE)
Southampton v Burnley, 4.30pm
Arsenal v Manchester City, 7pm
No Shame
Lily Allen
(Parlophone)
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
More on Quran memorisation:
Pox that threatens the Middle East's native species
Camelpox
Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.
Falconpox
Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.
Houbarapox
Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.
