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Business

Oil prices swing after Brent tops $90 on supply strains

Oil prices surged on July 29, pushing Brent crude above $90 a barrel as renewed Middle East fighting and tighter U.S. inventories lifted global benchmarks. Brent futures settled at $90.74, up $6.65, or 7.9%. West Texas Intermediate gained $5.20, or 6.6%, to $84.46. Both contracts posted their strongest daily advances in several weeks. The contracts had already gained more than 20% during July as regional supply disruptions affected energy markets.

Business

UK solar capacity reaches 22.8 GW before plug-in launch

UK solar capacity reached 22.8 gigawatts at the end of June 2026, with about 2.076 million installations nationwide. Developers added 27,391 systems during June, contributing 132 megawatts. The latest monthly figures remain provisional as more projects enter the dataset, setting a baseline before new plug-in solar rules take effect.

Business

India commits 84084 crore rupees to offshore energy security

The financial framework allocates capital across four principal program pillars to transform the upstream petroleum landscape. According to official disclosures issued by the Prime Minister’s Office, the government designated 28,534 crore rupees specifically for offshore seismic data acquisition, processing, and high-resolution interpretation. This data segment includes 12,000 crore rupees for basin-wide two-dimensional seismic surveys, 12,534 crore rupees for three-dimensional seismic coverage, and 4,000 crore rupees to modernize the National Data Repository using artificial intelligence tools. The structured allocation ensures comprehensive mapping of unexplored frontier basins and erstwhile restricted maritime zones across the eastern and western sea boards.

Business

Canadian economy grew 0.3% in May report

The monthly economic expansion was led primarily by a 1.0 per cent rise in the mining, quarrying, and oil and gas extraction sector, marking its second straight month of sector-wide growth. Increased production across Alberta bitumen sites and deferred routine spring maintenance enabled higher crude oil extraction volumes throughout May. Support activities for oil and gas extraction surged by 9.8 per cent, recording its seventh consecutive monthly expansion. Additionally, transportation and warehousing output grew by 0.3 per cent, supported by increased pipeline throughput carrying natural gas to export markets and higher domestic freight movements.

Business

Gold prices fall on strong dollar ahead of central bank meeting

Precious metal values declined during Tuesday trading sessions as a stronger United States dollar increased purchasing costs for international buyers while financial institutions awaited the outcome of a critical central bank meeting. Official market reports published by Emirates News Agency confirmed that gold slips as firm dollar weighs; focus turns to Fed meeting perspectives across global commodity exchanges. Spot gold values retreated 0.7 percent to reach $4,045.89 per ounce following a brief advance of up to 1 percent recorded during Monday sessions. United States gold futures contracts for August delivery experienced a downward adjustment of 0.8 percent to settle at $4,046.20 per ounce. Concurrently, broader precious metals experienced downward pressure as spot silver declined 2 percent to $57.23 per ounce, platinum dropped 0.9 percent to $1,605.93, and palladium slid 1.6 percent to $1,270.97.

Business

Senate crypto bill faces pushback over conflict of interest rules

Legal experts from both oversight groups noted that the ethics language released in the Senate draft was narrowly drawn and created major statutory exemptions. According to the advocacy groups, the proposed draft grandfathered in existing cryptocurrency holdings and financial arrangements while omitting robust enforcement mechanisms. The organizations asserted that the legislative language effectively immunized pre-existing commercial ventures from federal oversight. To establish meaningful reform, the watchdogs demanded a comprehensive prohibition precluding all covered government officials from holding direct financial stakes, trading digital assets, or receiving revenue from pre-existing licensing and profit-sharing agreements.