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Offering was priced at AED3.40 per share, roughly 43 percent above the IPO price of AED2.37 per share
Bullion gained more than 1 percent so far this week, rising to an all-time high of $2,954.69 on Thursday
The EIA reported on Thursday that U.S. crude oil stockpiles rose, while gasoline and distillate inventories fell last week
The offering will only be open to qualified institutional and other investors in a number of countries, including the UAE
Gold was trading near its all-time high of $2,946.85 it hit on Wednesday
The final offer price will be determined through a book-building process and is expected to be announced on February 26
Analysts forecasted that about 2.2 million barrels of crude was added to U.S. stockpiles in the week ended on February 14
The system allows investors to subscribe directly through portfolios, eliminating the need for new accounts
Spot gold dropped 0.2 percent to $2,928.52, while U.S. gold futures fell 0.1 percent
West Texas Intermediate crude futures also experienced a 0.3 percent rise, reaching $72.03 per barrel
Spot gold was up 0.1 percent at $2,898.99, while U.S. gold futures gained 0.4 percent to $2,912.60
Crude Oil WTI Futures set to expire in March increased by 0.7 percent to $71.17 per barrel
The U.S. dollar fell to near its lowest level since December 17 in reaction to disappointing U.S. retail sales data on Friday
Crude Oil WTI Futures expiring in March were similarly muted at $70.69 a barrel
On Thursday, Trump asked his economics team to set up plans for reciprocal tariffs on every country taxing U.S. imports
This week, Brent was up 0.7 percent and WTI rose 0.5 percent
The subscription period will open on February 20 and end on February 25
President Trump said he would impose reciprocal tariffs as soon as Wednesday evening on every country that charges duties on U.S. imports
Russia is the world's third-largest oil producer and sanctions imposed on its crude exports have supported higher prices
The U.S. Consumer Price Index (CPI) report is scheduled for release at 13:30 GMT later today
U.S. West Texas Intermediate (WTI) crude fell by 28 cents, or 0.4 percent, to $73.04 a barrel
Trump's 25 percent tariffs on steel and aluminum imports raised inflation fears, escalated trade tensions
Such tariffs could potentially hinder global economic growth as well as energy demand
Trump announced 25 percent tariffs on all steel and aluminum imports, escalating trade policy amidst existing metal duties
