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☆ The most exciting new trains coming in 2025
▼ + stars: | 2025-01-02 | by ( Ben Jones | ) edition.cnn.com time to read: +13 min

Here are some of the key developments in the coming year:Paris-Berlin in 8 hoursDirect high-speed trains between Paris to Berlin launched in December. Mohamad Salaheldin Abdelg Alsayed/Anadolu/Getty ImagesTwo of Europe’s great capitals are now linked by their first direct high-speed train connection. yanjf/iStock Editorial/Getty ImagesIn a little over 15 years, China has built by far the world’s largest high-speed rail network. Britannic Explorer – England and WalesBritannic Explorer will become the second major luxury train delivering scenic itineraries around the United Kingdom. Le Grand Tour FranceLake Annecy is on the itinerary for the Le Grand Tour France train.

Persons: Mohamad Salaheldin Abdelg, —, Dolce Vita, Riva Aquarama, itineraries, Kuleshova, John Coletti, Simon Rogan, Bob Douglas, iStock, Saudi, S.P.A, Saudi Arabia Rai, Davide Di Battista, Al Qurayyat, King Salman Bin Abdulaziz Organizations: CNN, Getty, Deutsche Bahn, Express, China Morning Post, China Railway, Vita, Orient, Sleeper, Bloomberg, Eurostar, New Orleans Amtrak, Bank, Amtrak, Hurricane, Orient Express, Wales Britannic, Royal, Belmond, Hibernian, Michelin, France Lake, Le, France, de, King Salman Bin Abdulaziz Royal Natural Reserve, Saudi, Saudi Arabian Railways, Italy’s Locations: Italy, France, Saudi Arabia, United Kingdom, Paris, Berlin, Anadolu, Strasbourg, Karlsruhe, Frankfurt, Europe, Shanghai, Beijing, China, Japan, Spain, Quanzhou, Fuzhou, Xiamen, Fujian Province, Venice, Italian, Rome, Matera, Palermo, Sicily, Messina, Europe’s, Istanbul, Split, Brussels, Belgian, Dutch, Prague, Germany, European, Netherlands, Munich, Innsbruck, Bolzano, Verona, Amtrak, New Orleans, Mobile , Alabama, Bay St, Louis, Gulfport, Biloxi, Pascagoula, Gulf Coast, United States, England, Scotland, Scottish, London, Wales, Lake District, Cornwall, Ireland, France Lake Annecy, —, Champagne, Burgundy, Lake Annecy, Alps, Avignon, Arcachon, Loire, Vendee, Riyadh, Al, Jordanian, Saudi Arabian, Saudi

☆ Oil nudges higher after Saudi Arabia hikes prices
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: +2 min

Oil futures edged up on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas conflict could still widen in the key oil producing region. Brent crude futures climbed 28 cents, or 0.3%, to $83.24 a barrel at 0119 GMT, while U.S. West Texas Intermediate crude futures were at $78.40 a barrel, up 29 cents, or 0.4%. Saudi Arabia raised the official selling prices, or OSPs, for its crude sold to Asia, Northwest Europe and the Mediterranean in June, signaling expectations of strong demand this summer. This comes after Saudi Arabia raised June OSPs for most regions amid a tightening of supplies this quarter, he added. The geopolitical risk premium in oil prices has also eased as talks for a Gaza ceasefire are underway.

Persons: ICE Brent, Warren Patterson, OSPs, Brent, Benjamin Netanyahu, Baker Hughes Organizations: Brent, U.S, West Texas, ICE Locations: Saudi Arabia, Gaza, Israel, Asia, Northwest Europe

☆ Oil prices edge higher after U.S. stocks build less than expected
▼ + stars: | 2024-03-07 | by ( ) www.cnbc.com time to read: +1 min

Oil prices ticked higher on Thursday after U.S. crude inventories rose less than expected last week and fuel stocks saw large draws. Oil prices ticked higher on Thursday after U.S. crude inventories rose less than expected last week and fuel stocks saw large draws. Brent crude futures rose 15 cents to $83.11 a barrel by 0021 GMT, while U.S. West Texas Intermediate crude futures rose 18 cents to $79.31 a barrel. The benchmarks edged up about 1% on Wednesday after crude inventories rose for a sixth week in a row, building by 1.4 million barrels, about two-thirds of the 2.1 million-barrel rise analysts had forecast in a Reuters poll. Gasoline and distillate stocks fell more-than-expected, the EIA data also showed.

Persons: Jerome Powell Organizations: Brent, U.S, West Texas, U.S . Federal Locations: U.S ., U.S, Beijing, Saudi Arabia, Asia, Oman, Dubai

☆ Dream of the Desert: Saudi Arabia is launching its own luxury train
▼ + stars: | 2024-01-29 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +7 min

State-owned railway company Saudi Arabia Railways (SAR) recently struck a 200 million Saudi riyals ($53.33 million) deal with Italian hospitality company Arsenale Group to launch the first luxury train in the Middle Eastern kingdom. The destination has made a number of high-profile tourism investments in recent years – a $500 billion model city in the desert of northwest Saudi Arabia among them. Now Saudi Arabia is getting on board with the slow travel movement in a big way by moving into the luxury train market. Arsenale S.P.A./Saudi Arabia RailwaysSaudi Arabia’s decision to enter the luxury train market comes as demand for high-speed trains and luxury “rail cruises” continues to increase around the world. Infrastructure investmentA rendering of Dream of the Desert, which will be the first luxury train in the Middle Eastern kingdom.

Persons: Paolo Barletta, ” Barletta, S.P.A, Joe Biden, Dolce, ”, Luigi Corradi, King, Khalid al, Falih, Arsenale S.P.A, Bashar bin Khaled Al Malik, Al Malik, CNN’s Lilit Marcus, Ben Jones Organizations: CNN, State, Saudi Arabia Railways, Saudi, Arsenale Group, SAR, Saudi Arabia Railways Saudi, Reuters, “ Orient, Accor, Ferrovie dello Stato, Speed Railway, King Abdulaziz International, Saudi Arabia’s Investment, Projects, Saudi Railway Company, Orient Express, Orient Locations: Saudi Arabia, Saudi, Arabia’s, Riyadh, Qurayyat, Jordan, Hail, Italy, France, Italy’s, Mecca, Medina, Jeddah, Venice, London, Kyushu

☆ China defies sanctions to make Russia its biggest oil supplier in 2023
▼ + stars: | 2024-01-21 | by ( ) www.cnbc.com time to read: +3 min

Seen here is an oil pumping unit at Huabei oil field on the outskirts of Hejian city, Hebei province, China. Russia leapfrogged Saudi Arabia to become China's top crude oil supplier in 2023, data showed on Saturday, as the world's biggest crude importer defied Western sanctions to purchase vast quantities of discounted oil for its processing plants. To support prices, Saudi Arabia and Russia, two of the world's top three oil producers, announced output and export cuts last year. Chinese refiners use intermediary traders to handle the shipping and insurance of Russian crude to avoid violating the Western sanctions. China's overall crude imports for 2023 rose to a record of 563.99 million metric tons, equivalent to 11.28 million bpd.

Persons: Buyers, Nicolas Maduro's Organizations: ICE, U.S Locations: Russia, Hejian, Hebei province, China, Russia leapfrogged Saudi Arabia, Saudi Arabia, Iraq, Ukraine, Russian, Malaysia, Iran, Venezuela, Caracas, Beijing, Washington, U.S

India's crude imports from Russia are expected to reach a record high in April as Asia's second-biggest oil buyer increasingly turns away from its traditional suppliers in the Middle East. As Russian oil was increasingly sanctioned and shunned by European buyers and some in Asia, such as Japan, the steep discounts on offer led to India's refiners buying increasing volumes. The Middle East's share of India's imports likely dropped to 39.8% in April, according to Refinitiv, down from the 12-month average of 56%. While the buying of Russian crude is fairly broad-based among India's refiners, the biggest buyer is Reliance Industries (RELI.NS), which operates a 1.24 million bpd refinery complex in Jamnagar. Kpler data shows that this complex is expected to receive 20.87 million barrels of Russian crude in April, or about 30% of the total volume of India's imports.

☆ Oil edges higher on prospect of tighter supplies
▼ + stars: | 2023-04-10 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

Companies Baker Hughes Co FollowSINGAPORE, April 10 (Reuters) - Oil prices nudged higher in early Asian trade on Monday, supported by the prospect of tighter supplies from OPEC+ producers from May, but concerns about the global economic outlook capped gains. The group known as OPEC+ will be cutting mostly sour crude supplies from Middle East producers. Following the announcement, top exporter Saudi Arabia raised its May crude prices to term customers in Asia and the United States. Separately, investors are watching the progress of talks between Iraq and Kurdistan to restart northern oil exports which could bring more sour crude to the global market. Sharp rate hikes have boosted the greenback, making dollar-denominated commodities such as oil more expensive for investors holding other currencies.

☆ Saudi Arabia raises Arab Light crude price to Asia for 2nd month in April
▼ + stars: | 2023-03-06 | by ( Muyu Xu | ) www.reuters.com time to read: +2 min

SINGAPORE, March 6 (Reuters) - Top crude exporter Saudi Arabia raised prices for the flagship Arab light crude it sells to Asia for a second month in April, to $2.50 a barrel above the Oman/Dubai average, Aramco (2222.SE) said on Sunday night. The market is surprised by Saudi Arabia's price setting on Arab Heavy, a medium sour crude containing more sulphur than Arab Light. The official selling price (OSP) for Arab Heavy is $0.75 a barrel above the Oman/Dubai average, up $2.5 a barrel from March. PetroChina (601857.SS) is preparing to start its 400,000 barrels-per-day refinery in the southern Chinese province Guangdong, which has been designed to refine heavy grades such as Arab Heavy. Meanwhile, the OSP to Mediterranean was raised by 30 cents from last month at $0.80 versus ICE Brent for April.

☆ Saudi Arabia sells $5 bln in first bond deal in almost a year
▼ + stars: | 2022-10-18 | by ( Yousef Saba | ) www.reuters.com time to read: +3 min

DUBAI, Oct 18 (Reuters) - Saudi Arabia sold on Tuesday $5 billion in Islamic and conventional bonds for which demand topped $26.5 billion as it held its first international bond sale in almost a year. "Saudi is a fairly logical substitute for Russia and its weight in indices such as the JPMGBI (JPMorgan Government Bond Index) has been growing." Saudi Arabia's finance ministry on Tuesday also invited holders of its $3 billion bonds due in 2023, $4.5 billion notes due in April 2025, $2.5 billion bonds due in October 2025 and $5.5 billion notes maturing in 2026 to tender them for cash. Saudi Arabia's sovereign wealth fund, the Public Investment Fund, raised $3 billion with green bonds in its debt markets debut earlier this month. Saudi Arabia raised $3.25 billion in bonds in November via sukuk and bonds, after issuing bonds worth 1.5 billion euros in February and $5 billion in January last year.

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