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The Latest Breaking News from Saudi Arabia

Markets Today: Stocks Mixed with Energy Stocks Climbing as Saudi Arabia Cuts Oil Production

Morning Markets June E-Mini S&P 500 futures (ESM2 3) this morning are up +0.1%, and June Nasdaq 100 E-Mini futures (NQM2 3) are down -0.15%. U.S. stock index futures this morning are mixed. Energy stocks are climbing in pre-market trading as crude prices jumped more than +2% to a 1-month...

Barchart

Karim Benzema signs deal to join Saudi Arabia’s Al-Ittihad from Real Madrid

Karim Benzema has signed documents to join the Saudi Arabian club Al-Ittihad after confirming his departure from Real Madrid

The Guardian - UK

Iran to reopen its embassy in Riyadh on Tuesday - Fars news

Iran will reopen its embassy in Saudi Arabia’s capital on Tuesday, Iranian sources told semi-official Fars news agency, months after Tehran and Riyadh agreed to end years of hostility.

Reuters

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Brent crude price rises after Saudi Arabia agrees to cut oil output

Price gained more than 2% on Monday morning to touch one-month high of $78.73

The Guardian - UK

N’Golo Kante targeted for Saudi Arabia transfer as Chelsea uncertainty grows

French midfielder could follow Cristiano Ronaldo and Karim Benzema to the Gulf state, with Lionel Messi also in talks

Evening Standard

Saudi Arabia warns Snapchat users that ‘insulting’ regime is a criminal offense

Users of the social media app have faced legal consequences for posts – some private – that are critical of Saudi authorities

The Guardian - US

Venezuela's Maduro visits Saudi Arabia -state media

Venezuelan President Nicolas Maduro arrived in Saudi Arabia on Monday, state media reported, as the kingdom continues to expand its diplomatic outreach beyond traditional Western alliances.

Reuters

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Saudi Arabia welcomes Venezuelan leader Maduro, reaching out to yet another US foe

Saudi Arabia has welcomed Venzuelan President Nicolas Maduro on an official visit, reaching out to yet another U.S. foe as the oil-rich kingdom engages in a flurry of diplomacy

The Independent UK

Oil price up after Saudi Arabia cuts output; UK mortgage rates and car sales rise – as it happened

Rolling coverage of the latest economic financial news, as Brent crude hits $78/barrel and new car market records longest period of growth since 2015

The Guardian - UK

Israeli energy minister opposed to idea of civilian Saudi nuclear programme

Israel's energy minister voiced opposition on Monday to the idea of Saudi Arabia developing a civilian nuclear programme as part of any U.S.-mediated forging of relations between the countries.

Reuters

Most Asian shares rise, oil prices up after Saudi output cuts

SYDNEY: Most Asian share markets rose on Monday on optimism the Federal Reserve would pause its rate hikes this month after a mixed US jobs report, while oil prices jumped after Saudi Arabia pledged big output cuts.

Bangkok Post

Saudi Arabia slashes output further to boost oil price

VIENNA - Riyadh on Sunday announced a fresh oil output cut following a meeting of major producers aiming to prop up prices despite fears of a recession.

Bangkok Post

Saudi Arabia cuts oil production again to shore up prices — this time on its own

OPEC+ countries also agreed to extend oil production cuts they announced in April through the end of 2024, reducing production by more than 1 million barrels per day.

WEKU

Opec+ to extend cuts in oil output into 2024 as prices flag

Oil cartel members reportedly agree to reduce output by a further 1.4m barrels, with oversupply a concern

The Guardian - UK

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Evening Standard

Boxing news: Frank Warren addresses Oleksandr Usyk’s Saudi Arabia deal after Tyson Fury fight collapse

Heavyweight division continues to be at somethin of a gridlock

The New Daily

Karim Benzema leaves Real Madrid for lucrative Saudi Arabia deal

Ballon d'Or winner Karim Benzema will leave Real Madrid as a free agent after 14 trophy-laden years, with the striker to move to Saudi Arabia.

The Independent UK

US, Saudi Arabia urge Sudan’s warring parties to agree to a new cease-fire, amid fresh battles

Saudi Arabia and the United States have urged Sudan’s warring parties to agree to and “effectively implement” a cease-fire amid renewed fighting in the northeastern African nation

Evening Standard

Karim Benzema: Real Madrid confirm club legend’s exit amid Saudi Arabia transfer links

Frenchman looks destined to join Cristiano Ronaldo in Middle East

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Reuters

Fighting escalates in Sudan's capital after ceasefire expires

Fighting intensified in several areas of Khartoum on Sunday after a ceasefire deal expired, residents of Sudan's capital reported, and activists said a new outburst of violence in North Darfur state had left at least 40 people dead.

The Hindu

India's import of Russian oil scales new high in May

India’s import of cheap Russian oil scaled another record and is now more than the combined oil bought from Saudi Arabia, Iraq, UAE and the U.S., industry data showed. India took 1.96 million barrels a day from Russia, 15% more than the previous according to data from energy cargo tracker…

Daily Mirror

Oleksandr Usyk moves closer to Tyson Fury fight by signing with Saudi Arabia promotion

Heavyweight champion Usyk has inked a deal with the Saudi Arabia promotion in the hopes of fighting Fury after their undisputed fight in April fell through

Reuters

Saudi foreign ministry calls on Sudan factions to agree new ceasefire

Saudi Arabia's foreign ministry and the United States called on Sudan's warring factions to agree to a new ceasefire and make efforts to implement it effectively, the Saudi ministry and the U.S. said on Sunday.

The Independent UK

With oil prices slumping, OPEC+ producers weigh more production cuts

The major oil-producing countries led by Saudi Arabia and Russia are deciding whether to make more cuts to the amount of crude they supply to the global economy

The Guardian - UK

Cristiano Ronaldo’s topsy-turvy Saudi sideshow upstaged by power of Nuno

Portuguese compatriots duel for honours in a patchy first season in the Middle East for the ex-Manchester United striker

Daily Mirror

Newcastle's owners 'providing funds' for Lionel Messi and Karim Benzema transfer chases

The Saudi Pro League is launching a bid to bring in several superstars to join Cristiano Ronaldo in the Middle East, with the money coming from Newcastle's owners the Public Investment Fund

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