Air Djibouti begins first flight to Aden after three-year hiatus

Air Djibouti began its first flights to Yemen's interim capital Aden on Wednesday. (Archive)
Updated 14 March 2018
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Air Djibouti begins first flight to Aden after three-year hiatus

DUBAI: Air Djibouti began its first flight to Aden International Airport on Wednesday after a three-year hiatus due to the war against pro-Iranian Houthi militia in the province of Aden, Saudi state-news channel Al-Ekhbariya reported.
The airline launched the trip on Wednesday in the presence of Djibouti’s ambassador to Yemen Mohammed Ali Issa and Yemen’s ambassador to Djibouti Abdullah Musallam Al-Sakhtari, according to the official Yemeni news agency.
Aden’s Undersecretary for Transportation Khalid Al-Jahlmani welcomed the delegation from Djibouti, and expressed appreciation for the efforts to facilitate trade between the two countries.
For his part, the Djiboutian ambassador said that the inauguration of his country’s flights to Aden were the signals of the development of relations between the two nations.
The Yemeni ambassador said that the resumption of flights between the two countries will also facilitate humanitarian organizations’ work in Yemen.


Oil prices climb as Saudi capacity cushions impact

Updated 20 September 2019

Oil prices climb as Saudi capacity cushions impact

  • Kingdom pledges return to capacity by end of November as Kuwait strengthens security for oil sector

LONDON: Oil prices gained on Thursday, supported by supply risks as the market assesses the fallout from last weekend’s drone attacks on Saudi oil
infrastructure.

Brent crude futures gained $1.78 to $63.80 a barrel, while US West Texas Intermediate crude was up $1.28 at $58.40 a barrel.

The attacks knocked out around half of Saudi Arabia’s crude production and severely limited the country’s spare capacity, a cushion for oil markets in any unplanned outage.

“Global available spare capacity is extremely low at present following the weekend attacks, leaving little room for additional outages, which tends to be price supportive,” UBS oil analyst Giovanni Staunovo said.

Earlier this week Saudi Arabia set out a timeline for a resumption of full operations, saying it had restored supplies to customers at levels prior to the attacks by drawing from its oil inventories.

HIGHLIGHTS

• US to impose more sanctions on Iran.

• Cushing stocks at lowest since October, 2018.

• Global excess capacity at low level.

The Kingdom said it would restore its lost production by the end of this month, and bring its output capacity back to 12 million barrels per day by the end of November.

“These plans suggest Saudi Arabia will have no spare capacity for at least the next two and a half months,” consultancy Energy Aspects said.

Saudi Arabia, the world’s leading oil exporter, has said the crippling attack on its oil sites was “unquestionably sponsored” by Iran.

US President Donald Trump said there were many options short of war with Iran and added that he had ordered the US Treasury to “substantially increase sanctions” on Tehran. Iran has denied involvement in the strikes.

Iran warned President Trump against being dragged into all-out war in the Middle East.

US Secretary of State Mike Pompeo has described the weekend strike as an act of war and has been discussing possible retaliation with Saudi Arabia and other Gulf allies.

Kuwait’s oil sector has raised its security to the highest level as a precaution, a Kuwaiti official said.

Separately, weekly data from the Energy Information Administration on US oil inventories provided a mixed snapshot.

Stockpiles of crude in the US the world’s largest oil producer, rose by 1.1 million barrels last week against analysts’ expectations for a drop of 2.5 million barrels.

However, stocks at Cushing, Oklahoma, the delivery point for benchmark futures, fell to their lowest since October 2018.