Oil rose more than $1 on Tuesday as bargain hunters emerged after recent sharp falls due to the coronavirus pandemic and the price war between Saudi Arabia and Russia, but fears of a recession still dragged on the market. Brent crude LCOc1 was up by 1.8%, or 55 cents, to $30.60 a barrel by...

State oil giant Saudi Aramco said on Monday it was likely to sustain higher oil output planned for April through into May, and that it was “very comfortable” with a price of $30 a barrel. Aramco said last week it would be raising its output in April to a record 12.3 million barrels per...

International Monetary Fund Managing Director Kristalina Georgieva on Monday called on governments to take coordinated fiscal and monetary stimulus measures to stop the coronavirus from causing long-term economic damage. In a blog message posted on the IMF website, Georgieva said the global...

The Dubai Financial Market temporarily closed its trading floor and customer affairs counters as precautionary measure to prevent the spread of the coronavirus. The trading floor will be shut from Monday until further notice, the exchange said in a statement. “The temporary closure of...