Tag Archives: world’s

Attack on world’s largest crude terminal in Saudi Arabia sends oil surging to 13-month high

Global prices for crude oil extended gains to a more than one-year high on Monday, after an alarm message from Saudi Arabia that the world’s largest crude terminal at Ras Tanura had been attacked. Output remained unaffected.

International benchmark Brent was up 2.9 percent to $ 71 a barrel – the highest since January 2020 –   while West Texas Intermediate climbed to $ 67,59 per barrel, marking a growth of 2.53 percent.

A crude-oil storage tank at Ras Tanura, on the Gulf kingdom’s coast, was reportedly targeted by a drone from the sea on Sunday, despite the terminal being one of the most protected facilities in the world. Its daily export capacities of around 6.5 million barrels a day account for about seven percent of global oil demand.
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The attack comes as part of a recent escalation of warring tensions in the Middle East, after Yemen’s Houthi rebels reportedly launched a series of attacks on Saudi Arabia. Sunday’s incursion was the most  serious against a Saudi oil facility since September 2019, when a key processing facility and two oil fields came under fire, causing a halt to production for several days.

Crude prices extended their rally last week, following the news that the Organization of the Petroleum Exporting Countries (OPEC) and allied oil producers, together known as OPEC+, agreed to prolong existing output curbs for April. At the same time, Saudi Arabia, the world’s biggest oil producer, made a surprise announcement that it would maintain its voluntary supply cuts in April, withholding a million barrels a day from the market in addition to the cartel’s efforts.

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Russia’s Daniil Medvedev becomes first man outside ‘Big Four’ to break into world’s top 2 since 2005

Russian star Daniil Medvedev will become the first new name in more than 15 years to break into the rankings among the world’s top two players when the ATP ratings are updated later this month.

The ATP confirmed on Saturday that Medvedev, 25, would rise one place to number two on March 15.

That means Medvedev will become the first player outside of Novak Djokovic, Rafael Nadal, Roger Federer and Andy Murray to be among the world’s top pair since July of 2005.

Medvedev achieves the feat despite suffering a shock defeat in the first round of the Rotterdam Open earlier this month, when he went out to Serbia’s Dusan Lajovic.

If Medvedev had reached the final in Rotterdam, he would have been guaranteed to overtake Nadal as number two, behind Djokovic.

However, the ATP confirmed on Saturday that the Russian is still now assured of that spot despite his early exit in the Netherlands.  

The news came as the draw was made for the Open 13 Provence trophy in Marseille, where top seed Medvedev will play Egor Gerasimov of Belarus in the first round.

Current number two Nadal was forced out of an ATP tournament in Acapulco, Mexico, later this month due to a back injury. 

Medvedev has enjoyed some remarkable form in recent months. Prior to his loss to Lajovic, the big Russian had suffered just one other defeat in his past 21 matches – going down to Djokovic in straight sets in the final of the Australian Open in February.
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There was also further joy for Russian tennis on Saturday as world number eight Andrey Rublev beat Greece’s Stefanos Tsitsipas to reach the final in Rotterdam.

Rublev, 23, will meet either Borna Coric of Croatia or Marton Fucsovics of Hungary in Sunday’s final.  

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