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Oil falls on prospect of more OPEC+ supply, easing risks in Mideast

Brent crude futures LCOc1 fell 13 cents, or 0.19 per cent, to $67.64 a barrel by 0344 GMT, ahead of the August contract’s expiry later on Monday

Reuters
Reuters

30 June, 2025

Oil falls on prospect of more OPEC+ supply, easing risks in Mideast
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Oil prices fell on Monday as an easing of geopolitical risks in the Middle East and the prospect of another OPEC+ output hike in August improved supply expectations amid persistent uncertainty over the outlook for global demand.

Brent crude futures LCOc1 fell 13 cents, or 0.19 per cent, to $67.64 a barrel by 0344 GMT, ahead of the August contract’s expiry later on Monday. The more active September contract LCOc2 was at $66.62, down 18 cents.

Read-Saudi Arabia ready for multiple oil price scenarios, economy minister says

US West Texas Intermediate crude CLc1 dropped 32 cents, or 0.49 per cent, to $65.2 a barrel.

Last week, both benchmarks posted their biggest weekly decline since March 2023, but they are set to finish higher in June with a second consecutive monthly gain of more than 5 per cent.

A 12-day war that started with Israel targeting Iran’s nuclear facilities on June 13 pushed up Brent prices, which surged above $80 a barrel and then slumped to $67 after President Donald Trump announced an Iran-Israel ceasefire.

The market has stripped out most of the geopolitical risk premium built into the price following the Iran-Israel ceasefire, IG markets analyst Tony Sycamore said in a note.

Further weighing on the market, four delegates from OPEC+, which includes allies of the Organization of the Petroleum Exporting Countries, said the group was set to boost production by 411,000 barrels per day in August, following similar-sized output increases for May, June and July.

OPEC+ is set to meet on July 6 and this would be the fifth monthly increase since the group started unwinding production cuts in April.

However, bearish pressure from concerns over slower global oil demand, particularly from China, is likely to persist.

Uncertainty around global growth continues to cap prices, said Priyanka Sachdeva, senior market analyst at Phillip Nova.

China’s factory activity contracted for a third straight month in June, as weak domestic demand and faltering exports weighed on manufacturers amid US trade uncertainty.

In the US, the number of operating oil rigs, an indicator of future output, fell by six to 432 last week, the lowest level since October 2021, Baker Hughes said.

Expired Saudi visit visa? Kingdom offers one-month extension for exit

Applicants seeking to benefit from the initiative must submit their requests via the Tawasul service

Gulf Business
Gulf Business

28 June, 2025

Expired Saudi visit visa? Kingdom offers one-month extension for exit
Image: Getty Images/ For illustrative purposes

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Saudi Arabia’s General Directorate of Passports has launched an initiative to extend all types of expired visit visas for the purpose of final exit, effective from Muharram 1, 1447 AH (June 26), the Saudi Press Agency (SPA) reported.

The initiative grants a 30-day extension window, subject to the payment of applicable fees and penalties in line with existing regulations, according to the directorate.

People with expired visit visas should submit requests through Saudi’s Tawasul service

Applicants seeking to benefit from the initiative must submit their requests via the Tawasul service available on the Ministry of Interior’s Absher electronic platform during the designated period.

The directorate urged all eligible individuals to take advantage of the initiative before the deadline, SPA said.

Read: Umrah visas now require approved hotel booking via Nusuk Masar

Saudi Arabia opens airspace to enable smooth flow of air traffic

The kingdom has reinforced its airport and airspace security through enhanced surveillance systems, risk management frameworks, and technical infrastructure upgrades

Gulf Business
Gulf Business

28 June, 2025

Saudi Arabia opens airspace to enable smooth flow of air traffic
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Saudi Arabia has opened its airspace to support the smooth flow of international air traffic amid recent regional tensions, mobilising all available resources and implementing extensive preparations to accommodate a significant increase in transit flights, the Saudi Press Agency (SPA) reported on June 27.

The kingdom is now handling an average of more than 1,330 daily flights through its airspace, which is nearly double the number recorded before the crisis began.

These additional flights were managed safely and efficiently, aided by advanced technologies and stringent security measures in full compliance with International Civil Aviation Organization (ICAO) standards.

According to SPA, the General Authority of Civil Aviation (GACA) activated additional air routes and expanded airspace capacity, reducing flight times through modern navigational systems and procedures. The move ensured continuity and safety of air traffic operations during the period of heightened tension.

More than 220 international air carriers transited through Saudi skies during this time, prompting the activation of pre-planned airspace expansion protocols.

Saudi reinforces airport and airspace security

The kingdom reinforced its airport and airspace security through enhanced surveillance systems, risk management frameworks, and technical infrastructure upgrades.

Crisis management teams, equipped with cutting-edge technologies, processed real-time data to provide rapid operational support to local and regional stakeholders.

This allowed for seamless traffic flow and strengthened Saudi Arabia’s reputation as a safe and reliable aviation hub.

Saudi Arabia’s air navigation system includes 20 control towers, two regional area control centres with 15 control sectors, 10 approach control centres, and over 1,200 navigation devices across the country, SPA reported.

These are operated by a workforce of more than 1,900 aviation specialists, including over 700 male and female air traffic controllers, all working under advanced operational methodologies.

Missed Messages? WhatsApp’s new feature helps you catch up instantly

Users have full control over the feature, including the ability to enable it only for selected chats via the Advanced Chat Privacy settings

Nida Sohail
Nida Sohail

28 June, 2025

Missed Messages? WhatsApp’s new feature helps you catch up instantly
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WhatsApp has announced a new feature designed to help users quickly catch up on unread conversations. The tool, called Message Summaries, leverages Meta AI to provide concise overviews of unread messages—without compromising user privacy.

Whether returning from a Wi-Fi-free flight or juggling multiple chats during a busy day, users can now rely on Message Summaries to get up to speed quickly. The summaries are generated privately using Meta’s Private Processing technology, which ensures that neither WhatsApp nor Meta can access message content or the summaries themselves.

Read-WhatsApp rolls out new features for businesses: How to benefit from them

“No one else in the chat will know you’ve used the feature,” the company said in a statement. “Your privacy is protected at all times.”

Message Summaries are entirely optional and turned off by default. Users have full control over the feature, including the ability to enable it only for selected chats via the Advanced Chat Privacy settings.

The feature is currently rolling out in English to users in the United States, with plans to expand to more languages and regions later this year. For those interested in how Private Processing works, Meta has published an engineering blog.

This announcement follows WhatsApp’s May 2025 update that brought voice chats to groups of all sizes. Designed for spontaneous conversations—whether discussing a thrilling game, reacting to a show’s finale, or sharing exciting news—voice chats offer a flexible, live audio experience within existing group chats.

Unlike traditional calls, starting a voice chat does not notify or ring other members. Instead, users can join and leave the ongoing conversation at their convenience. The voice chat remains pinned to the bottom of the group chat for easy access to call controls and participant visibility.

Previously limited to large groups, the feature is now available to all group sizes. Users can start a voice chat by swiping up from the bottom of the chat window and holding for a few seconds.

As with all WhatsApp communications, voice chats are protected by end-to-end encryption, ensuring privacy and security.

New $205m agreement to boost UAE-GCC power grid interconnection

The Abu Dhabi Fund for Development signed the financing agreement with the Gulf Cooperation Council Interconnection Authority to facilitate power exchange between the UAE and GCC nations

Gulf Business
Gulf Business

28 June, 2025

New $205m agreement to boost UAE-GCC power grid interconnection
Image courtesy: WAM/ For illustrative purposes

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Abu Dhabi Fund for Development (ADFD) has signed a Dhs752m ($205m) financing agreement with the Gulf Cooperation Council Interconnection Authority (GCCIA) to support the expansion of the GCC power grid interconnection with the UAE’s national electricity network, state news agency WAM reported.

The agreement, signed at ADFD’s headquarters in Abu Dhabi, seeks to strengthen regional energy security and facilitate power exchange between the UAE and other Gulf Cooperation Council (GCC) member states.

The infrastructure project forms part of broader efforts to enhance regional energy resilience and enable wider economic and developmental integration, aligning with the UAE Energy Strategy 2050.

The strategy aims to create an energy system that is both sustainable and economically efficient.

Initiative will increase electricity transmission capacity between UAE and GCC

Designed as a strategic grid upgrade, the initiative will significantly increase electricity transmission capacity between the UAE and the GCC network.

Technical and economic feasibility studies have supported its design, in line with the GCCIA’s vision for a durable, regionally connected power infrastructure.

The project includes the construction of a 400kV double-circuit overhead transmission line spanning 96 kilometres, connecting the Al Silaa substation in the UAE with the Salwa substation in Saudi Arabia.

It also entails the expansion of three substations — Gonan, Al Silaa, and Salwa — and the installation of advanced 400kV switchgears, circuit breakers, and reactors, along with modern protection and control systems to enhance grid efficiency and reliability.

“This project reflects ADFD’s commitment to financing high-impact infrastructure that supports the UAE’s development priorities,” said Mohammed Saif Al Suwaidi, director-general of ADFD. “Power grid interconnection is a strategic enabler of energy security and a foundation for accelerating the transition to clean and sustainable energy sources.”

He added that the project would “increase the efficiency of the power grid, improve emergency preparedness, strengthen connectivity with regional partners, and promote the integration of renewable energy,” supporting the GCC’s sustainability and emissions reduction goals.

Engineer Ahmed Ali Al Ebrahim, CEO of the GCCIA. called the initiative the first phase of a broader collaboration with ADFD during the current grid expansion and noted parallel efforts to interconnect with Kuwait, Oman, and southern Iraq, representing a total investment exceeding $1bn.

“By leveraging increased transmission capacity, we aim to activate a unified Gulf electricity market to facilitate cross-border power trade,” Al Ebrahim said. “This could create economic opportunities projected to exceed $20bn over the next 15 years.”

DubaiNow app users can now access their credit report, credit score

Etihad Credit Bureau’s integration with DubaiNow follows earlier efforts such as its service linkage with TAMM Abu Dhabi

Gulf Business
Gulf Business

27 June, 2025

DubaiNow app users can now access their credit report, credit score
Image: Getty Images/ For illustrative purposes

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The Etihad Credit Bureau (ECB), the UAE’s federal entity for credit information and analytics, has announced a strategic partnership with DubaiNow, the Dubai government’s unified smart services platform, allowing users to access their credit report and credit score directly through the app.

The integration enables individuals to retrieve their credit data with a single click, significantly enhancing user convenience and digital accessibility.

“Etihad Credit Bureau is committed to advancing the UAE’s digital transformation agenda by fostering integration across local government platforms,” said Marwan Ahmad Lutfi, director general of Etihad Credit Bureau. “By leveraging advanced technology and seamless APIs, we’ve made it easier than ever to stay informed about your credit health through the digital channels individuals use most.”

DubaiNow offers over 300 services

Image courtesy DubaiNow website

DubaiNow, developed by Digital Dubai, provides over 300 integrated government and private sector services. With the latest addition, users can now view their personal credit history and rating — critical tools for managing financial health.

Matar Al Hemeiri, chief executive of the Digital Dubai Government Establishment, said: “We are pleased to announce the joining of Etihad Credit Bureau to the DubaiNow application, enabling users to easily and quickly access their credit information anytime. This step embodies Etihad Credit Bureau’s leading position and reflects its commitment to advancing the digitalisation of life in the UAE.”

The initiative aligns with the UAE’s national strategy, “We the UAE 2031”, which envisions a pioneering digital ecosystem that supports modern lifestyles and a robust digital economy.

Etihad Credit Bureau’s integration with DubaiNow follows earlier efforts such as its service linkage with TAMM Abu Dhabi, and reflects its broader vision of facilitating seamless digital access to credit services nationwide.

Both entities say the partnership will encourage informed decision-making and promote financial literacy among UAE residents, while laying the groundwork for deeper intergovernmental digital collaborations.

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