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13.11.26 - 09:24
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Talabat CEO: Grocery Demand Up Amid Mideast Situation (Bloomberg)
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Food delivery giant Talabat reported its 3Q revenue jumped 18 percent to $1.2 billion. The Dubai-based firm says the growth is driven by robust demand during the summer and back-to-school periods. Talabat CEO Toon Gyssels spoke to Bloomberg's Abeer Abu Omar on Horizons Middle East & Africa on the earnings. (Source: Bloomberg)...
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11.11.26 - 23:48
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Middle East Oil Flows Far From Normal Despite Signs Of Oversupply (ZeroHedge)
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Middle East Oil Flows Far From Normal Despite Signs Of Oversupply
Authored by Tsvetana Paraskova via OilPrice,Middle Eastern crude exports have recovered to near pre-war levels, raising fears of an oil glut and pushing Brent down roughly 17% in five trading days.Record tanker rates and war insurance premiums remain a major burden, with crude transport costs reaching $30 per barrel despite weakening oil prices.Depleted global inventories and disrupted fuel exports threaten a sustained recovery, with industry leaders warning that rebuilding oil stocks could take up to two years.Crude oil flows through the Strait of Hormuz and the whole Middle Eastern region have recovered to close to pre-war levels, vessel-tracking services have been signaling for over a month now.Middle Eastern benchmarks have been weakening for weeks, suggesting an oil glut may be building amid rebounding Persian Gulf exports and global demand destruction amid high prices.On the face of it, an oversupply of crude oil could be ...
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