Amsterdam-Rotterdam-Antwerp Oil Product Stocks Drop to 12-Year Low
Total oil product stocks held independently in the Amsterdam-Rotterdam-Antwerp refining and storage hub were down 4% on the week to their lowest since 2014, as the war in the Middle East disrupts imports, data from Dutch consultancy Insights Global showed on Thursday.Total stocks stood at 4.72 million metric tons, dropping on declines in naphtha and middle distillate inventories, the data showed. Jet kerosene stocks were down 7.6%, continuing their downward trend from recent weeks, to 597,000 tons, to a four-year low, Insight Global's Lars van Wageningen said.
Gulf Stock Markets Rise on Increasing Oil Prices
Most stock markets in the Gulf ended higher on Monday, helped by rising oil prices and positive market sentiment amid growing expectations of additional Federal Reserve rate cuts.Oil prices - a catalyst for the Gulf's financial markets - rose after the U.S. intercepted an oil tanker in international waters off the coast of Venezuela and tensions in Russia's war against Ukraine remained high, both of which raised fears of supply disruptions.Saudi Arabia's benchmark index gained 0.7%…
TKMS Enjoys Defense Boom in Stock Market Debut
Warship builder TKMS rode a global defence boom to reach a valuation of 6.3 billion euros ($7.35 billion) in its blockbuster stock market debut on Monday, surpassing that of parent and main shareholder Thyssenkrupp.The listing of TKMS is the German conglomerate's latest move to simplify its structure and take advantage of growing demand for defence assets.Shares in Thyssenkrupp, which will keep a 51% stake in TKMS after the spin-off, were down 19% at 1109 GMT, reflecting the transfer of the stake in the naval vessel business…
Shipping Stocks Battered After US Port Strike Ends
Shares in shipping companies fell heavily in Europe and Asia on Friday after workers and U.S. port operators agreed a deal to end a strike on the East and Gulf coast docks far sooner than expected.In early trading in Europe, shipping group A.P.
