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US crude premiums hit highs as refiners compete

Europe is typically the largest importer of US crude, but competition has escalated with Asian buyers scouring for supply from the Americas to Africa and Europe to replace Middle Eastern oil that is unable to move through the Strait of Hormuz

Reuters
Reuters

06 April, 2026

US crude premiums hit highs as refiners compete
Image: Getty Images/Image for illustrative purpose

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Spot premiums for US West Texas Intermediate crude have jumped to all-time highs as competition between Asian and European refiners for supply heats up to replace Middle Eastern oil flows disrupted by the Iran war, industry sources said.

Europe is typically the largest importer of US crude, but competition has escalated with Asian buyers scouring for supply from the Americas to Africa and Europe to replace Middle Eastern oil that is unable to move through the Strait of Hormuz.

The jump in crude prices is driving up costs and widening losses for refiners on both continents, sources and analysts said, putting severe pressure on companies including state-owned firms that are required by governments to keep producing fuel for national security.

“Asian refiners, shut out of Middle Eastern supply, are bidding aggressively for every available Atlantic Basin barrel,” said Paola Rodriguez-Masiu, chief oil analyst at Rystad Energy, in a note dated April 3.

Offers for WTI Midland crude delivered to North Asia in July on very large crude carriers had premiums of $30 to $40 a barrel, depending on the benchmark used, traders said.

One trader pegged the premium at $34 a barrel to Dubai quotes while another put it at $30 a barrel above dated Brent. Two others said offers have gone closer to $40 a barrel above an August ICE Brent basis.

Those levels are up from premiums of close to $20 a barrel for deals concluded in late March and early April, when Japanese refiners including Taiyo Oil purchased WTI crude, traders said.

“Every day there’s a new price,” one of the traders said, adding that Asian refiners face severe losses from the premiums.

Another trader said refiners would be better off reducing crude runs and buying products – if anyone is offering.

Spot premiums jumped after the prompt monthly spread for WTI futures hit its widest backwardation on Thursday. Backwardation refers to when prompt prices are higher than those in future months.

Wider discounts on US crude oil compared with global benchmark Brent have also spurred demand for tankers on the US Gulf Coast, reducing vessel availability in the region and driving up freight rates.

In Europe, bids for WTI Midland delivered to the continent climbed to a record premium of close to $15 a barrel against dated Brent on Thursday.

“At current physical differentials and freight rates, European refiners buying spot crude cannot make money running those barrels through their systems,” Rodriguez-Masiu said.

US, Iran and mediators make push for 45-day ceasefire

The ceasefire could be extended if additional time was required for talks, the report said

Reuters
Reuters

06 April, 2026

US, Iran and mediators make push for 45-day ceasefire

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Article Summary
Reports suggest the US, Iran, and regional mediators are discussing a potential two-phase deal to end the war. The initial phase involves a 45-day ceasefire to negotiate a permanent resolution. This ceasefire could be extended if required. Separately, Trump has issued a 48-hour ultimatum to Iran regarding the Strait of Hormuz.

The US, Iran and a group of regional mediators are discussing the terms for a potential 45-day ceasefire that could lead to a permanent end to the war, Axios reported on Sunday, citing four US, Israeli and regional sources with knowledge of the talks.

Reuters could not immediately verify the report. The White House and the US State Department did not immediately respond to Reuters’ requests for comment.

Read more-Trump issues another 48-hour ultimatum to Iran

The mediators are discussing the terms of a two-phased deal, the report said, adding that the first phase would be a potential 45-day ceasefire during which a permanent end to the war would be negotiated.

The second phase would be an agreement on ending the war, the report said.

The ceasefire could be extended if additional time was required for talks, the report said.

US President Donald Trump told the Wall Street Journal on Sunday his deadline for Iran to open the Strait of Hormuz or face attacks on critical infrastructure is Tuesday evening.

‘Quiet Roads’ initiative steps up, as Dubai Police announce vehicle seizures, fines

Since the campaign began, officers have seized 1,230 vehicles and issued 33,372 traffic fines tied to noise, reckless driving, and illegal modifications

Neesha Salian
Neesha Salian

06 April, 2026

‘Quiet Roads’ initiative steps up, as Dubai Police announce vehicle seizures, fines
Image: Dubai Media Office/ For illustrative purposes

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Article Summary
Dubai Police's "Quiet Roads" initiative tackles noise pollution and reckless driving in residential areas. They have seized 1,230 vehicles and issued over 33,000 fines, targeting illegal modifications and disturbances. Data analysis informs targeted patrols, improving residents' sense of safety. Abu Dhabi Police are also promoting road safety through community forums, emphasising responsible driving and public awareness.

Dubai’s residential neighbourhoods have been getting noticeably calmer, and it’s not by accident.

Dubai Police have been running a focused, data-driven campaign under the ‘Quiet Roads’ initiative, and the latest numbers paint a clear picture of how seriously the force is cracking down on anything that disturbs community peace.

Since the campaign began, officers have seized 1,230 vehicles and issued 33,372 traffic fines tied to noise, reckless driving, and illegal modifications. It’s a firm move aimed at protecting quality of life and reinforcing the sense of safety that residents expect in their neighbourhoods.

Brigadier Jumaa Salem bin Suwaidan, director of the General Department of Traffic, said the initiative fits squarely within Dubai Police’s broader goal of preserving public tranquillity.

He noted that the campaign was designed to respond to recurring behaviours that were becoming a headache for residents: revved engines late at night, aggressive driving through quiet streets, and vehicles modified in ways that push both noise and safety limits.

Dubai Police vehicle seizures across several categories

What sets this initiative apart is how targeted it is. Dubai Police have been analysing resident complaints, community reports, and violation trends to pinpoint exactly where issues keep reappearing. That approach allows patrols and enforcement teams to go straight to the hotspots rather than spreading resources thin across the city.

The results cut across several categories. Officers recorded 1,178 cases of illegal engine or chassis modifications, 412 violations linked to noise disturbance, 341 incidents of reckless driving, and 230 fines tied to misuse of horns or audio systems.

Motorcyclists and riders of electric bikes and bicycles were also on the radar, with over 31,000 violations between them, showing how varied the sources of disruption can be in dense residential areas.

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A key part of the campaign is how Dubai Police measure success. Beyond fines and seizures, they are tracking the community’s “sense of safety”, a performance indicator that reflects whether residents actually feel the difference on the ground.

Early readings suggest the integrated approach of awareness, monitoring, and enforcement is having the intended impact.

Brigadier bin Suwaidan said the work won’t slow down. More data-led interventions are already in development, all designed to keep neighbourhoods calm, safe, and predictable.

He encouraged residents to stay involved and report disruptive behaviours, noting that community participation plays a big role in maintaining the safety and order Dubai aims for.

If the numbers are any indication, the message is landing. The roads are getting quieter, and Dubai Police intend to keep them that way.

Abu Dhabi community forum highlights reckless driving

in other news, Abu Dhabi Police have stepped up efforts to raise awareness about risky driving, using a community forum to underline how dangerous behaviours behind the wheel threaten public safety and social security.

The discussion, held at Al Maqam Majlis in Al Ain and organised with the Abu Dhabi Councils under the Presidential Court’s Citizens and Community Affairs Office, brought together local residents and participants from the ‘We Are All Police’ programme as part of the Year of the Family 2026 initiatives.

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Colonel Sultan Subaih Al Menai, director of the Al Maqam Police Centre, said the force is focused on community forums that address social issues, promote awareness, prevent negative behaviours, and reinforce positive values to support stability.

He emphasised that road safety is a shared responsibility, and compliance with traffic laws is critical to protecting road users.

Officials also stressed the importance of vigilance against dangerous driving habits such as speeding, distracted driving, tailgating, sudden lane changes, not wearing seatbelts, failing to stop for pedestrians, and running red lights to build a more informed and safer generation.

Dubai to open 35 new parks this year

By 2040, Dubai Municipality aims to deliver 310 new parks and upgrade more than 220 existing parks

Neesha Salian
Neesha Salian

06 April, 2026

Dubai to open 35 new parks this year
Image: Dubai Media Office/ For illustrative purposes

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Article Summary
Dubai Municipality is investing Dhs348m to open 35 new parks this year, serving 23 residential communities. This initiative is part of Dubai's Blue and Green Spaces Roadmap 2030, a Dhs4bn programme delivering over 120 parks and 200 recreational facilities.

Dubai is preparing to expand green, walkable spaces for its fast-growing communities. In its latest announcement, Dubai Municipality has set out plans to open 35 parks this year, backed by Dhs348m in investment.

The new parks, spanning more than 340,000 square metres, will serve 23 residential communities.

The projects are part of the municipality’s Blue and Green Spaces Roadmap 2030 wider plan to expand green and waterfront spaces across Dubai.

That roadmap includes projects exceeding Dhs4bn, with more than 120 parks and 200 sports and recreational facilities scheduled for delivery over the next five years.

Accessible public spaces

The municipality said park locations were chosen according to planning standards that ensure residents can reach them within a five-minute walk.

All parks will be open and unfenced to blend with surrounding neighbourhoods, with designs incorporating climate-responsive features and resilient infrastructure.

Dubai Municipality is also preparing curated programmes and seasonal activations aimed at driving year-round use and longer visits.

Bader Anwahi, CEO of the Public Facilities Agency at Dubai Municipality, said: “Dubai Municipality continues to accelerate the delivery of public and neighbourhood parks in line with the Dubai Parks and Greenery Strategy and the Blue and Green Spaces Roadmap 2030. This portfolio reflects our commitment to expanding integrated public spaces within a human-centric urban ecosystem that enhances wellbeing and strengthens social cohesion.

“By ensuring parks are within walking distance and designed around the evolving needs of communities, we are setting a new benchmark for the role of public spaces in improving quality of life and supporting sustainable urban growth across the emirate.”

Environmental resilience is built into the projects, with biodiversity strategies, climate adaptation measures, and sustainable systems guiding design and operations.

Measures include expanded tree planting, recycled irrigation water, renewable energy solutions, and the use of artificial intelligence and robotics to improve environmental governance and resource efficiency.

Dubai Municipality said it is inviting private sector partners to participate through public-private partnership models.

A unified regulatory framework will govern standards, operations, and long-term sustainability across the park network.

New parks in Dubai to feature five integrated zones

The new parks will follow a five-zone layout designed to encourage all-day and all-season use. The zones include early childhood play areas, active playgrounds, youth and adult sports facilities, social and experiential F&B zones, and flexible community spaces.

Collectively, the parks will include more than 60 children’s play areas, 18 football fields, 20 multi-use sports courts, skate areas, running and cycling tracks, open green spaces, shaded seating, picnic areas, water features, and F&B offerings.

The municipality has also created a centralised, data-driven framework using flexible park typologies and design standards to assess community needs and ensure consistency and scalability.

By 2040, Dubai Municipality aims to deliver 310 new parks and upgrade more than 220 existing parks, creating an interconnected network of community-driven public spaces across the emirate.

Read: Dubai Holding Entertainment’s CEO on investing in immersive attractions

UAE breaks into world’s top 10 exporters as trade hits Dhs6tn

Latest WTO data shows the UAE climbed from 17th to 9th in global goods exports in five years, with total trade hitting Dhs6tn and a Dhs584bn surplus in 2025

Gareth van Zyl
Gareth van Zyl

06 April, 2026

UAE breaks into world’s top 10 exporters as trade hits Dhs6tn

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Article Summary
The UAE has surged into the world's top ten goods exporters, jumping from 17th to 9th place, according to the WTO. Foreign trade reached Dhs6tn last year, a 15% increase, with a significant trade surplus.

The UAE has entered the world’s top 10 exporters of goods for the first time, climbing from 17th to 9th place in just five years, according to the latest data from the World Trade Organization (WTO).

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Minister of Defence of the UAE and Ruler of Dubai, said the country’s total foreign trade reached Dhs6tn ($1.6tn) last year, marking a 15 per cent increase year-on-year.

“Our total foreign trade reached Dhs6tn last year… with a trade surplus of Dhs584bn across goods and services,” Sheikh Mohammed said in a post on X, adding: “Anyone who bets on the UAE is betting on growth, prosperity, and a brighter future.”

The figures underline the UAE’s growing role as a global trade hub, with total trade rising sharply from Dhs3.5tn in 2021 to over Dhs6tn in 2025.

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Goods trade accounted for the bulk of activity, reaching around Dhs4.9tn, while services trade exceeded Dhs1tn for the first time, a key milestone for the country’s diversification strategy.

Exports represented more than half of total goods trade, reinforcing the UAE’s position within global supply chains.

The country also recorded a trade surplus of Dhs584bn in 2025, up from Dhs492bn the previous year, reflecting strong external demand and competitive export performance.

Resilience amid global uncertainty

Officials say the performance comes despite a challenging global backdrop, including geopolitical tensions and rising energy prices.

Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, described the ranking as “a testament to our nation’s competitiveness” and global confidence in the UAE economy, noting that services sectors such as logistics, finance, and technology continue to expand at strong rates.

The UAE has also maintained its position as the leading trading nation in the Middle East and Africa since 2014, supported by open economic policies and an expanding network of trade agreements.

Through its Comprehensive Economic Partnership Agreement (CEPA) programme, the country is targeting further market access and export growth, while investing in supply chain efficiency and digital trade capabilities.

The WTO report cautioned that global trade growth is expected to slow in 2026, with goods trade projected to expand by just 1.9 per cent, down from 4.6 per cent in 2025.

Fires at Borouge plant contained after air defence debris in Abu Dhabi

Operations suspended at key petrochemicals facility as authorities responded; no injuries reported

Gulf Business
Gulf Business

05 April, 2026

Fires at Borouge plant contained after air defence debris in Abu Dhabi
Borouge media gallery photo of the company's facilities in Abu Dhabi.

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Article Summary
Abu Dhabi authorities responded to three fires at the Borouge petrochemicals plant, a critical industrial facility. The fires were caused by falling debris after successful air defence interceptions. Operations have been suspended for damage assessment, and emergency teams are on-site. No injuries have been reported. The public is urged to rely on official sources for updates.

Abu Dhabi authorities successfully contained three fires at the Borouge petrochemicals plant after falling debris fell on the site, according to a statement from the Abu Dhabi Media Office.

The debris was linked to what officials described as successful interceptions by air defence systems.

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Emergency response teams were deployed to contain the fires, while operations at the facility have been immediately suspended as damage assessments get underway.

No injuries were reported.

Borouge is Abu Dhabi’s flagship petrochemicals producer, converting oil and gas into high-performance plastics used across infrastructure, energy and manufacturing globally.

The company’s facilities form part of the UAE’s critical industrial backbone, supporting both domestic supply chains and international markets.

Authorities said further updates will be provided as more information becomes available.

The public has been urged to rely only on official sources for updates and to avoid spreading rumours or unverified information.

  • This story has been updated.

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