Tuesday, October 13, 2026Jumada I 2, 1448 AH

العربية
جديدًاJadidan

The news, anew

Business

Business

Oil Falls as Trump Comments on Iran Talks Ease Supply Concerns

Oil prices fell on Friday as Middle East supply concerns eased after US President Donald Trump said the country would not attack Iran before US elections next month, amid productive talks to end their war that has disrupted global energy markets. Brent crude futures dropped $1.68, or 1.61%, to $102.6 a barrel by 0819 GMT. US West Texas Intermediate (WTI) crude futures fell $1.31, or 1.43%, to $90.18, Reuters reported. On a weekly basis, Brent prices are set to rise after settling 4% higher on Thursday, while WTI is set for a slight decline.

Asharq Al-Awsat English

Business

London Copper Rises on Supply Risks, China Buying

London copper rose on Friday, recovering from the previous session's loss, as mine disruptions and buying in top consumer China supported prices. Benchmark three-month copper on the London Metal Exchange was up 1.16% at $14,475 a metric ton by 0700 GMT, after dropping 1.15% in the previous session. It has climbed 1.52% so far this week, Reuters reported. The most-traded copper contract on the Shanghai Futures Exchange fell 0.57% to 110,110 yuan a ton, tracking overnight losses in London.

Asharq Al-Awsat English

Business

China and EU Trade Envoys Seek Ways to Ease Tensions over Growing Imbalances

The top trade envoys for China and the European Union were wrapping up two days of talks Friday aimed at calming escalating tensions over growing imbalances between the two giant economies. EU trade chief Maros Sefcovic traveled to Beijing saying it was crucial that the negotiations deliver “tangible outcomes” in rebalancing trade between China and the 27-nation bloc. It was unclear, however, if the two sides would find the will to resolve key factors behind China’s growing trade surplus, which hit 360 billion euros ($410 billion) last year.

Asharq Al-Awsat English

Business

Gold Rises More Than 1%, Fed Outlook in Focus

Gold rose more than 1% on Friday, helped by a softer US dollar and lower oil prices, while market players weighed lingering inflation concerns and the outlook for Federal Reserve interest rates. Spot gold rose 1.4% to $4,190.57 per ounce by 0630 GMT after hitting a two-month low on Wednesday. Prices headed for a weekly gain. US gold futures for December delivery gained 1.4% to $4,215.30, Reuters reported. The dollar rally took ⁠a breather, making ⁠greenback-priced bullion more affordable for holders of other currencies.

Asharq Al-Awsat English

Business

China to Resume October Fuel Exports after Holiday Pause

China is set to resume October refined fuel exports after a brief halt during its Golden Week holiday, a move that will help ease tight global diesel, gasoline and jet fuel markets, four traders familiar with the matter said on Friday. China has approved October exports of the three fuels at around 3.7 million metric tons combined, according to two other industry participants. Chinese refiners were expected to export slightly more than 4 million tons of gasoline, diesel and ⁠jet fuel in ⁠September, Reuters reported early last month.

Asharq Al-Awsat English

Business

WTO Raises 2026 Global Merchandise Trade Growth Forecast to 3.9% On AI Boom

The World Trade Organization (WTO) has upgraded its global merchandise trade growth forecast for 2026 to 3.9%, a significant jump from its previous 1.9% projection made in March. The upward revision is primarily driven by surging investments in artificial intelligence (AI) and adaptable supply chains, which have successfully cushioned economic shocks from the ongoing Middle East conflict. The latest WTO Global Trade Outlook and Statistics report expects 4.1% growth in 2027, up from a previous forecast of 2.6%, and marginally below 2025 trade volume growth of 4.2%.

Asharq Al-Awsat English

More