Global oil prices experienced a 2% decline on Tuesday, marking a third consecutive day of losses as market participants assessed the implications of U.S. sanctions on Russia’s major oil firms and potential output adjustments by OPEC+. Brent crude futures fell by $1.36 (2.1%) to $64.26 per barrel, while U.S. West Texas Intermediate (WTI) crude dropped $1.29 (2%) to $60.02. The downturn follows last week’s significant gains, driven by U.S. President Donald Trump’s decision to impose Ukraine-related sanctions on Russia’s Lukoil and Rosneft, two of the country’s largest oil producers. However, Germany’s economy minister revealed that Rosneft’s German operations would be exempt from sanctions, easing immediate supply concerns. Phil Flynn, senior analyst at Price Futures Group, noted that the waiver introduced uncertainty, reducing fears of a dramatic supply squeeze. Meanwhile, Lukoil announced plans to sell its international assets, marking a significant response to Western sanctions. Indian refiners have paused new orders for Russian oil, awaiting clarity from the government and suppliers. OPEC+ is reportedly considering a modest output increase in December, raising questions about the group’s spare capacity. Saudi Aramco’s CEO highlighted robust crude demand, particularly from China, while analysts suggested that rising OPEC+ output could offset potential Russian supply disruptions. Investors are also monitoring potential U.S.-China trade developments, with Trump and Chinese President Xi Jinping set to meet in South Korea later this week.
标签: Asia
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7 killed in Israeli strikes on Gaza, Hamas postpones hostage body handover
In a tragic escalation of tensions, seven Palestinians, including children and an infant, were killed, and four others injured in Israeli airstrikes across the Gaza Strip on Tuesday evening, despite an ongoing ceasefire. The Palestinian Civil Defense reported the casualties, which occurred in separate incidents in Khan Younis and Gaza City. According to Mahmoud Basal, a spokesman for Gaza authorities, an Israeli strike targeted a vehicle on Al-Qassam Street in Khan Younis, killing five, while another strike hit a residential building in the al-Sabra neighborhood, killing two and injuring four. Rescue teams worked tirelessly to recover victims from the rubble. Hamas condemned the strikes as a ‘blatant violation of the ceasefire agreement,’ urging mediators to pressure Israel to halt its actions. Meanwhile, Hamas’s armed wing, the Al-Qassam Brigades, postponed the handover of an Israeli hostage’s body, citing Israeli violations of the ceasefire. The group discovered the body during search operations in a southern Gaza tunnel. Israeli Prime Minister Benjamin Netanyahu ordered ‘immediate and powerful’ strikes in response to alleged ceasefire breaches by Hamas. The conflict, which began in October 2023, has resulted in significant casualties, with over 68,000 dead and 170,000 wounded in Gaza. Since the latest ceasefire took effect on October 10, 94 Palestinians have been killed and 344 injured. Both sides continue to exchange blame, with Israel vowing a forceful response to any violations.
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Tata Group – the divided empire facing boardroom drama
The Tata Group, one of India’s most iconic conglomerates, is grappling with a series of internal and external challenges that threaten its stability and growth. A year after the passing of Ratan Tata, the visionary leader who transformed the group into a global powerhouse, the company is embroiled in a boardroom power struggle and facing significant business headwinds. The group, which owns renowned brands like Jaguar Land Rover (JLR) and Tetley Tea, is also navigating crises in its newer ventures, including semiconductors, electric vehicles, and the revival of Air India. Recent reports suggest that Mehli Mistry, a close confidant of Ratan Tata and a trustee on the board of Tata Trusts, has been ousted, though this remains unverified. The internal discord stems from disagreements among trustees over board nominations, funding approvals, and the potential public listing of Tata Sons, the group’s holding company. The SP Group, Tata Sons’ largest minority shareholder, is pushing for a public listing, while most trustees oppose the move, fearing it would dilute decision-making authority and expose the company to market pressures. The conflict has raised governance concerns and tarnished the group’s reputation, compounded by recent setbacks such as the Air India crash and a cyber-attack on JLR. Amid these challenges, the tenure of Tata Sons’ chairman, N Chandrasekaran, has reportedly been extended. Experts warn that the group’s current instability could have short-term destructive effects but may eventually lead to a more transparent and accountable structure.
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Israel’s Netanyahu orders immediate ‘powerful strikes’ on Gaza: PM office
Israeli Prime Minister Benjamin Netanyahu has directed the military to execute immediate and forceful strikes on the Gaza Strip, following allegations that Hamas breached a US-mediated ceasefire agreement. The decision was announced on Tuesday, October 28, after extensive security consultations. Netanyahu’s office released a statement confirming the order, emphasizing the need for a robust response to the ceasefire violation. The Israeli Defense Forces (IDF) subsequently launched a series of targeted attacks on Hamas positions in southern Gaza. Earlier reports indicated that Hamas had fired towards Israeli troops stationed behind the ‘yellow line,’ a demarcation established under the ceasefire terms. This incident marks at least the third violation since the ceasefire was implemented. The escalation underscores the fragile nature of the truce and raises concerns about renewed hostilities in the region.
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Israel lifts restrictions on communities near Gaza after security review
In a significant development, Israel has officially lifted restrictions on communities near the Gaza border, as announced by the Israel Defence Forces (IDF) on Tuesday, October 28, 2025. This decision follows a comprehensive situational assessment and formal approval from Defence Minister Israel Katz. The move marks the first time such measures have been revoked since the October 2023 Hamas attacks, which prompted the imposition of a state of emergency in the region. Katz’s office stated, ‘I have decided to adopt the (Israeli military’s) recommendation and to lift, for the first time since October 7, the special state on the home front.’ The decision reflects the improved security conditions in southern Israel, bolstered by a ceasefire that has largely held since its initiation on October 10. This step signals a gradual return to normalcy for residents in the affected areas, who have endured heightened security measures for over two years.
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Saudi’s Red Sea Global chief says alcohol ‘not essential’ to draw tourists
Saudi Arabia’s ambitious plans to diversify its oil-dependent economy through tourism and entertainment are progressing steadily, with alcohol remaining off the table. John Pagano, CEO of Red Sea Global, a key player in the kingdom’s tourism strategy, emphasized that the absence of alcohol would not hinder the country’s appeal to international visitors. Speaking at the Future Investment Initiative (FII) in Riyadh, Pagano stated, ‘Alcohol is not permitted in the kingdom. It’s as simple as that. People come for the experiences and to lead healthier lives. Alcohol is not essential for our success.’
Saudi Arabia, the birthplace of Islam and home to its holiest cities, Makkah and Madinah, has traditionally been a religious destination. However, since the introduction of tourist visas in 2019 and the launch of Crown Prince Mohammed bin Salman’s Vision 2030 plan, the kingdom has been transforming into a global tourism hub. Despite this shift, the alcohol ban remains intact, with the exception of a single liquor store opened in January 2024, exclusively serving non-Muslim diplomats.
Pagano highlighted the kingdom’s significant investments in mega-projects, including entertainment, tourism, sports, and artificial intelligence. ‘The Public Investment Fund has committed $800 billion to tourism between now and 2030,’ he said, referencing the upcoming 2030 World Expo and the 2034 FIFA World Cup, both to be hosted in Saudi Arabia. Red Sea Global is spearheading the development of 27 hotels and resorts along the kingdom’s west coast, with ten already operational and the rest set to open by mid-2026. Pagano also expressed confidence in tapping into the lucrative market of Haj pilgrims, who visit Makkah annually. ‘Pilgrims come once in their lifetime, and we plan to capitalize on that,’ he added.
While the alcohol ban may deter some tourists, Pagano remains optimistic about Saudi Arabia’s ability to attract visitors through unique experiences and its rich cultural heritage. The kingdom’s focus on health-conscious tourism and its strategic investments in global events and infrastructure underscore its commitment to becoming a leading destination on the world stage.
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Adnoc Drilling posts 17% surge in nine-month profit
Adnoc Drilling has announced a significant 17% increase in net profit for the first nine months of 2025, reaching $1.06 billion. This growth is attributed to heightened activity across onshore, offshore, and integrated drilling services. Revenue for the period soared by 27% to $3.63 billion, driven by improved rig utilization, expanded unconventional drilling programs, and a sharp rise in integrated drilling services. Free cash flow surged by 174% to $1.2 billion, enabling the company to enhance shareholder returns while investing in fleet expansion and technological advancements. Return on equity stood at 36%, and return on capital employed at 25%, reflecting the company’s operational efficiency and robust margins. CEO Abdulla Ateya Al Messabi highlighted the disciplined execution and resilience of Adnoc Drilling’s contract model, emphasizing plans for transformational growth. The company aims to expand unconventional capacity to over 300 wells annually and grow its integrated drilling services fleet to approximately 70 rigs by 2026. These initiatives are expected to generate billions in new revenue streams, supported by in-house technical capabilities and a transition to becoming an AI-native company. Onshore revenue increased by 13% to $1.52 billion, while offshore jack-up and island drilling revenue reached $1.04 billion. Oilfield services revenue skyrocketed by 114% to $1.07 billion. Shareholders will benefit from a third-quarter dividend of $250 million, with the company targeting a minimum of $6.8 billion in distributions between 2025 and 2030. Adnoc Drilling is also advancing strategic initiatives, including joint ventures in Kuwait and Oman, and accelerating AI and automation adoption across fleet operations. Looking ahead, the company anticipates revenue of around $5 billion in 2026 and aims to expand its fleet to over 151 rigs by 2028.
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UAE set for big season as countdown begins to 30th Dubai World Cup
The UAE is gearing up for an extraordinary horse racing season as the countdown begins to the 30th anniversary of the Dubai World Cup, set to take place on March 28, 2026. The 2025–2026 racing season officially commences on November 1, 2025, at Jebel Ali Racecourse, which will host 11 meetings through March 8, 2026. Meanwhile, Meydan Racecourse will stage 16 meetings starting November 7, 2025, as part of the prestigious Dubai World Cup Carnival, culminating in the $12 million Dubai World Cup.
At a press conference held at Jumeirah Emirates Towers, Jebel Ali Racecourse announced a 20% increase in total prize money for the season and introduced the groundbreaking ‘Daaeemm’ scheme, the world’s first racing incentive program designed to support horse owners. This initiative aims to reward participation and competitiveness by offering additional bonuses to horses in selected categories, including maidens and younger horses, beyond their standard race purses.
Mohamed Ahmed Al Ahmed, Director General of Jebel Ali Racecourse, emphasized the season’s focus on growth and inclusion, highlighting the vision of Maj. General Sheikh Ahmed bin Rashid Al Maktoum. ‘With the launch of the Daaeemm scheme, we’re creating an incentive structure that benefits everyone in the racing community — owners, trainers, and fans alike,’ he said. ‘It’s about building a sustainable, competitive, and vibrant future for UAE racing.’
Mohammad Saeed Al Shehhi, General Manager and Board Member of the Emirates Racing Authority (ERA), described the 2025–2026 season as a milestone in the internationalization of UAE racing. ‘The UAE has long been recognised as a global leader in horse racing, and the build-up to the 30th Dubai World Cup only strengthens that reputation,’ he said. ‘Our goal this season is not just to celebrate history, but to show how far UAE racing has come.’
The season will feature 64 race meetings across five tracks — Meydan, Jebel Ali, Abu Dhabi, Sharjah, and Al Ain — with Jebel Ali hosting events like the Jebel Ali Mile, Jebel Ali Sprint, and Jebel Ali Stakes. Community-focused initiatives, such as Students and Universities Day, Gallop & Glam Fashion Day, and Ramadan Celebrations, will further enhance the season’s appeal.
As the UAE racing community prepares for this landmark season, the focus remains on making the 30th Dubai World Cup a historic and unforgettable event for the global sporting world.
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Ben & Jerry’s co-founder creating watermelon-flavoured ice cream to support Palestine
Ben Cohen, co-founder of Ben & Jerry’s, disclosed on Tuesday that the ice cream brand’s parent company, Unilever/Magnum, prevented the creation of a watermelon-flavored ice cream intended to advocate for peace in Palestine. Cohen, 74, shared this revelation in an Instagram post, expressing frustration over the decision. He explained that the proposed flavor aimed to promote justice and dignity for Palestinians, but Unilever/Magnum intervened, much like when the company blocked Ben & Jerry’s earlier decision to cease sales in Israeli-occupied territories.
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RSF fighters film themselves massacring Sudanese fleeing el-Fasher
The Rapid Support Forces (RSF) stormed the city of el-Fasher in Sudan on Sunday morning, plunging 260,000 trapped civilians into immediate danger. This assault marks a grim escalation in Sudan’s ongoing conflict, which began in April 2023. The RSF, accused of widespread atrocities including genocide in Darfur, has besieged el-Fasher for over 500 days. Middle East Eye (MEE) has verified numerous videos and images depicting chaotic and violent scenes, some published by the RSF itself and others circulating on social media. The footage shows RSF fighters celebrating their capture of the Sixth Infantry division garrison, the headquarters of the Sudanese Armed Forces (SAF) defending el-Fasher. Drone footage reveals scores of civilians fleeing the city on foot, while other videos depict RSF members looting, chasing, and killing civilians. The RSF’s commander, Abdel-Rahim Hamdan Dagalo, addressed his troops, claiming el-Fasher is now safe under their control. However, reports indicate widespread human rights violations, including the detention and execution of civilians and journalists. The Yale School of Public Health’s Humanitarian Research Lab previously warned that the RSF’s construction of berms around el-Fasher created a ‘literal kill box,’ facilitating the massacre of fleeing civilians. Despite international condemnation, the RSF denies allegations of war crimes, attributing the circulated videos to fabricated media campaigns. The fall of el-Fasher underscores the deepening humanitarian crisis in Sudan, with millions displaced and thousands killed since the war began.
