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Oil Price Hits $100-a-Barrel Target

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Global oil price continued to rise on Wednesday as traders and analysts saw the possibility that crude oil could rise above $ 100 a barrel this year for the first time since 2014.

While the US standard West Texas International, which was in the negative territory just over a year ago, also surged above that level, traders are increasingly betting that crude oil could soar to $ 100 a barrel by the end of the year from money speculation in New York and other malls that buy contracts at this price.

Christian Malek, the analyst for US banking giant JP Morgan who first suggested an impending “super cycle” in crude oil prices, told Arab News that $ 100 a barrel would be a difference by the year-end.

“To reach $100 in 2021 would require a significant uptick in demand in the second half, but that scenario is definitely possible as long as we don’t see a fourth wave of the COVID-19 virus,” Malek told.

Oil at that level would require a jump in demand to around 100 million barrels a day, pre-COVID levels, but Malek did not rule it out as economic recovery accelerated in most major world economies such as the US, China, and Europe. who forecast a future sharp spike in oil prices when they were hit by the pandemic last spring, said oil production was in a “straitjacket” due to financial and regulatory constraints in the industry.

OPEC + production under Saudi leadership and concerns about the ability of some OPEC + members to supply more production.

“Saudi Arabia, the UAE and Iraq probably have spare capacity, but it’s unlikely many of the others have the capacity they think,” Malek said.

They warned of supply risks due to major investment cuts since the pandemic price volatility, exacerbated by the shift in sentiment towards hydrocarbons in the US and Europe.

“There is an urgency to invest in spare capacity, otherwise we don’t see how the world will meet future demand. All of a sudden we could move from the scenario of ‘peak demand’ to ‘peak supply’, which is astounding,” said Malek.

Even the return of Iranian oil to the market, which some analysts feared, would push oil prices in the direction of “In fact, at some point we will need Iranian oil because we are running out of spare capacity

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Coronavirus cases UAE today 2369, 1201 recovered and 4 deaths.

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Total active covid cases in UAE are nearby 56,651. Coronavirus cases UAE today 2369 Covid-19 cases, 1201 recovered and 4 deaths.

On Wednesday, January 26, 2022, the UAE Ministry of Health and Prevention reported Coronavirus cases UAE today 2369, 1201 recovered, and 4 deaths. Total active covid points in UAE grown from 100 to nearby 59349. 20k extra new covid topics in the last five days.

Total active covid cases in UAE grown from 100 to nearby 59349. The number is growing, but death numbers are not like last year. Coronavirus cases UAE today 2369 Covid-19 cases, 1201 recovered and 4 deaths. 

The new cases came after 500,146 additional tests in UAE. The total number of covid cases in UAE on January 26 is 833,201. At the same time, full recoveries from covid cases stand at 771,624. The death toll now stands at 2,248 in UAE. Twenty-five new deaths due to covid in the last five days.

The new variant of Coronavirs and Omicron is found in more 40 countries. BA.2 is said to be more dangerous than Omicron. Many scientists already warn we have to remain alert with this new variant. It can be more contagious says many scientists worldwide. 

Vaccines companies has to look towards this variant as many scientists believe it can bevery dangerous variant. So once again question worldwide comes are ongoing vaccines good enough to fight against such family members of Omicron and other variants of Coronavirus. 

Life is becoming hell as this Coronavirus has taken time which no one ever thought about. In the 21st century, no one thought our medical experts worldwide would fall apart against one disease called Corona. We fought back, but this Corona and its variants have opened many eyes. 

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

 

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Images of Mars sent back by the UAE Hope probe

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Detailed images of Mars ice caps and clouds

Mars data released by the UAE’s Hope probe will provide a new look at the Red Planet’s key geographical features. Including Olympus Mons, the solar system’s largest volcano, and Valles Marineris. A canyon network that stretches 4,000 kilometers and reaches depths of up to 7 km.

A high-resolution camera aboard the Hope probe is also allowing scientists to create stunning images of Mars’ ice caps. Clouds Thanks to the eXploration imager instrument.

Hope will provide detailed images of Mars’ ice caps and clouds. Space enthusiasts believe the UAE’s information will help people around the world. To become more engaged with the topic of space travel.

ALSO READ: Men was killed in Abu Dhabi terrorist attack dreamt to help his son to become Doctor

Using raw monochrome images, they are highlighting features such as Olympus Mons, ice caps, and clouds Images processed by the public can help scientists in their research.

As it gives multiple eyes and hands the ability to process the thousands of images a mission sends back. In this case, Stuart Atkinson from the UK has been processing images sent back by the Hope probe.

Among the new data are views of familiar features, like Olympus Mons and Valles Marineris. “It is great that Hope will be sending back new views of these features, as opposed to the images taken by the Indian and Chinese missions,” he explained.

Seeing Mars as a real place, not just a red star in the sky. Also helps people connect with the mission. “I enjoy the image of Mars taken by the eXploration imager because it helps me envision what I would see if I were as a future explorer approaching the planet in a spacecraft.

Get all the latest UAE Market news only on Arab Market news. Your trust-able news portal brings all the latest news of UAE, Dubai, and world business news. 

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EXPO 2020 Indian Pavilion to host function on Republic Day.

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Singer Shweta Subram is going to perform in the EXPO 2020 Indian Pavilion. Expo visitors will see the significant function in Indian Pavilion.

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Indian Pavilion EXPO 2020

73rd Republic Day kick started in EXPO 2020 Indian Pavilion. The flag ceremony done in the morning time at EXPO 2020. Diplomats and a few people were present in the morning for the ceremony. Function is organise at 9:30 pm at Indian Pavilion.

Dr. Aman Puri at EXPO 2020:

The consul general of India to Dubai, Dr. Aman Puri, hoisted the Indian tri-color at 7.30 am at Indian Pavilion. They were followed up by reading President Ram Nath Kovind’s message to the nation. 

In 1950 India got their laws after gaining independence in 1947. After 3 years of hard work, India got the most suited constitution, helping the nation run smoothly even after 75years.

India is the world’s biggest Democratic country bringing liberty, justice, and equality to all the people living in the nation. They believe that the world is one policy. Our brothers and sisters help everyone on earth stay with people in hard times. 

Today, India has made its name one of the most tolerant nations in the world. Peace comes first for India. The growth of India in the past few decades is impressive. Many top business tycoons today feel India is the biggest market in technology. 

Special performances by singer Shweta Subram will lighten up Indian Pavilion EXPO 2020. Performances of Shweta and Anupam Nair will start at 9:30pm. 

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

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