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Crude inventories rose by 1.3 million barrels to 443.2 million barrels in the week ended May 16, the EIA said
The U.S. dollar was hovering near a two-week low, making gold cheaper for other currency holders
The final offer price was set at the top end of the price range, enabling the company to raise $584 million through the IPO
The issuance highlights the increasing appeal of Sharia-compliant financial instruments from UAE institutions
Subscription eligibility will be limited to shareholders registered with Edaa as of the deadline
Investors await upcoming U.S. oil stock data from the EIA later on Wednesday
Spot gold rose by 0.2 percent, now above $3,303 an ounce, its highest level since May
The number of subscribers in public and private funds exceeded 1.72 million, an annual increase of 47 percent
Moody's downgrade of U.S. credit rating raises concerns about economic outlook and oil prices
Spot gold down 0.4 percent at $3,215.31, reflecting market reactions to geopolitical news.
The revised offering size is expected to be between $568 million and $584 million
Both contracts saw a rise of over 1 percent after the U.S. and China paused tariffs
Spot gold rose 0.7 percent to $3,223.55 an ounce amid global market fluctuations
Both Brent and WTI were up 1 percent so far this week after a surge earlier in the week
Bullion has lost 3.3 percent so far this week and is set for its worst weekly performance since November 2024
The $96 billion deal sets new records as the largest wide-body order for Boeing, including the largest order for 787 Dreamliners
U.S. crude stockpiles rose by 3.5 million barrels to 441.8 million barrels in the week ended May 9
Market focus is now on the U.S. producer price index data, due at 12:30 GMT, following the softer-than-expected consumer data
Expectations of a significant increase in U.S. oil inventories tempered optimism in the market for now
Positive developments in U.S. trade policy are diminishing the appeal of gold in the short-term
The range values the Dubai Residential REIT between AED13.9 billion and AED14.3 billion
U.S. and China cut tariffs temporarily, boosting markets but leaving uncertainties unresolved.
U.S. and China announced tariff reductions, boosting global shares and altering market dynamics
The UAE's well-capitalized and liquid banks stand ready to provide funding if capital markets become unsupportive, ensuring stability
