Day: 4 October 2024

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Gold Rises on Safe-Haven Demand, Focus on US Payrolls Data

Gold prices rose on Friday, supported by safe-haven demand arising from the Middle East conflict, while focus shifted towards US payrolls report to gauge the trajectory of the Federal Reserves policy path.

Spot gold was up 0.3% at $2,662.50 per ounce, after climbing to a record high of $2,685.42/oz on Sept. 26. Bullion has gained 0.2% for the week.

US gold futures edged 0.1% higher to $2,682.10 per ounce.

The dollar eased 0.1%, pulling back from over a one-month high, making greenback-priced bullion less expensive for other currency holders.

Gold is considered a safe investment during times of political and financial uncertainty, and thrives in a low-rate environment.

Spot silver rose 0.4% to $32.17, and has gained about 1.8% so far this week.

Platinum climbed 1.1% to $1,001.79, and palladium advanced 1.4% to $1,013.46.

Source: Qatar News Agency

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Oil Edges Up on Middle East Conflict

Oil prices inched up in early Asian trading hours on Friday, holding on to their strong weekly gains, as investors weighed the Middle East conflict and the potential disruption in crude flows against an amply-supplied global market.

Brent crude futures were up 9 cents, or 0.12%, to $77.71 a barrel.

US West Texas Intermediate crude futures were up 8 cents, or 0.11%, to $73.79 a barrel.

Both benchmarks were on track for weekly gains of about 8%.

The market has started to price in the likelihood of supply disruptions in the Middle East, which accounts for about a third of global supply. However, the supply fears have been tempered by OPECs spare production capacity and the fact that global crude supplies have yet to be disrupted by the Middle East unrest.

Source: Qatar News Agency

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Omani Oil Prices Rise $3.24 a Barrel

The official price of Oman oil today, for delivery in December, reached $77.81. This was an increase of $3.24 compared to yesterday’s price (Thursday) of $74.57.

It is worth noting that the monthly average price of Omani crude oil for delivery in October reached $77.54 a barrel, a decrease of $6.31 compared to the price for delivery in September.

Source: Qatar News Agency

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Kuwaiti Oil Prices Reach $74.66 a Barrel

The price of Kuwaiti crude oil dropped by $0.74 to reach $74.66 per barrel in yesterday’s trading, down from $75.40 in the previous day’s trading, according to the price announced by the Kuwait Petroleum Corporation.

In global markets, Brent crude futures increased by $3.72, settling at $77.62 per barrel, while U.S. West Texas Intermediate (WTI) crude rose by $3.61, reaching $73.71 per barrel.

Oil prices registered gains for the third consecutive day during yesterday’s trading due to investor concerns over escalating tensions in the Middle East, which could potentially disrupt oil supplies from the region. However, markets experienced some calm as events continued to be closely monitored.

It is worth noting that the Middle East accounts for about one-third of the global crude oil supply. Investors are particularly worried that the recent escalation could impact supply flows if energy facilities are attacked or supply routes, especially the Strait of Hormuz, which is a key logistical point for around one-f
ifth of daily oil supplies, are shut down.

Source: Qatar News Agency

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European clubs celebrate Iraqi National Day


European clubs and leagues celebrated the Iraqi National Day, and offered congratulations and blessings to Iraqi sports fans and professional players in their leagues.

The Italian League congratulated the Iraqi National Day through its official website, with the hashtag Happy National Day for fans of the #Italian_League in Iraq, and the French club Paris Saint-Germain also celebrated the Iraqi National Day with expressions of praise and appreciation for its Iraqi sports fans, while the English club Ipswich Town took the initiative to decorate some parts of the club’s headquarters with the Iraqi flag in celebration of the Iraqi National Day.

Source: National Iraqi News Agency

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Basra announces the completion of all preparations to host the match between our national team and its Palestinian counterpart


The head of the Security Committee in Basra Provincial Council, “Aqeel Talib Al-Furaiji”, announced the completion of all security, administrative and technical preparations to host the match of the national team with its Palestinian counterpart.

Al-Furaiji said in a statement, today, Friday,”I followed up on the security, organizational and technical aspects related to completing all preparations to host the match of our national team and its Palestinian brother next Thursday.”

He stressed that “the security forces will perform their duty in the best way according to the experience they gained in previous matches to perform their work to ensure the organization of the match for the entry of sports fans.”

Source: National Iraqi News Agency

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Al Arabi Drawn in Group B of Asian Club Basketball Super League

The draw for the Asian Club Basketball Super League, held Friday in Beirut, placed Qatar’s Al Arabi in Group B alongside Kuwait’s Al Qadsia, Bahrain’s Al Manama, and Saudi Arabia’s A Ittihad.

Group A of the Gulf region features Kuwait’s Al Kuwait, Bahrain’s Al Ahli Club, Oman’s Al-Bashaer, and the UAE’s Shabab Al-Ahli.

For the West Asia region, Group A includes Syria’s Al Wahda, Iran’s Tabiat, and Lebanon’s Sagesse, while Group B features Lebanon’s Al Riyadi Beirut Club, Jordan’s Amman United Club, and Al Difaa Al Jawi of Iraq.

The Gulf region’s matches will begin as scheduled on October 14. However, due to ongoing security concerns, the West Asia region’s competition has been postponed to December 4, instead of the initially planned October 14 start date.

Source: Qatar News Agency

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Egypt’s Nour El Sherbini Reaches Qatar Classic Squash Final After Thrilling Victory

Doha: Egypt’s world No. 1 squash player, Nour El Sherbini, became the first player to advance to the final of the 2024 QTerminals Qatar Classic Squash Tournament.

El Sherbini, a seven-time world champion, secured a hard-fought victory over fellow Egyptian and third-seed Hania El Hammamy, the defending champion, in a thrilling semifinal that ended 3-2. The marathon match, the longest in the tournament so far, lasted 83 minutes with scores of 10-12, 12-10, 4-11, 11-5, and 11-9, all taking place at the Khalifa International Tennis and Squash Complex.

This win propels El Sherbini to her third final in Doha, following appearances in 2015, where she lost to England’s Laura Massaro, and 2023, where she fell to El Hammamy.

El Sherbini will face the winner of the other semifinal match between Egypt’s Nouran Gohar, the world No. 2, and the USA’s fifth-seed Olivia Weaver.

Speaking to Qatar News Agency after her victory, El Sherbini expressed her delight at the tough win, noting that the match remained tight until th
e 9-9 tie in the fifth set. She credited her calmness, focus, and experience in helping her secure the final points to claim victory.

The world No. 1, Nour El Sherbini, emphasized that the Qatar Classic is one of the major tournaments in squash, expressing her hope to clinch her first title in Doha tomorrow. She stated that she will prepare thoroughly for the final and will give her utmost effort to secure victory.

Source: Qatar News Agency