Oil
Primary market dollar issuance shows promise despite recent quietness in the GCC region
Trump's tariffs have raised fears of a potential recession in the global economy this year
U.S. crude oil stockpiles likely rose by about 500,000 barrels in the recent week
Sukuk issuance priced at 60 basis points over U.S. Treasuries attracted robust investor interest
U.S. WTI crude gained 41 cents, reaching $63.43
National non-oil exports (excluding re-exports) saw a rise of 0.7 percent, totaling SAR16.07 billion
U.S. crude oil stockpiles surge by 244,000 barrels, gasoline inventories plummet by 4.5 million: EIA
U.S. crude imports surged 1.14 million barrels daily, the highest increase since late 2024
U.S. crude oil inventories fell by about 4.6 million barrels last week, per API data
Reinforcing commitment to shareholder value
Trump criticized Fed Chair Powell, warning the U.S. economy could slow without immediate rate cuts
Markets remained nervous about aggressive U.S. tariffs and the ongoing trade war with China
