Latest from Argaam
Argaam
19 minutes ago
- Business
- Argaam
Aldrees opens 4 new stations
Aldrees Petroleum and Transport Services Co. (Aldrees) opened four new stations in Dhahran, Riyadh, Arar, and Najran, the company said on X. The stations are located in Ajyal, Al-Badi'ah, and Al-Aziziyah districts, as well as King Saud Road. They offer a comprehensive range of services, including car services, commercial markets, a mosque, and ATMs. Aldrees stations reached 1,050 by the end of 2024, according to Argaam 's data.
Argaam
19 minutes ago
- Business
- Argaam
Oil prices drop 2%, head for weekly gains
Oil prices were mixed on Friday, after the White House delayed a decision on potential US intervention in the Iran-Israel conflict. Despite the volatility, the prices are on track for weekly gains. Brent crude futures for August delivery fell by 2.1%, or $1.65, to $77.20 a barrel at 8:10 AM Makkah time. Meanwhile, US West Texas Intermediate (WTI) futures for August—the most actively traded contract—rose 0.65%, or 47 cents, to $73.97 a barrel. This came after a White House statement saying President Donald Trump would decide within the next two weeks whether the US will intervene in the ongoing Middle East conflict, according to Reuters. Chinese customs data released today showed fuel oil imports reached 1.30 million tons in May, equivalent to about 267,000 barrels per day—down 29% from April and 40% lower than the same period last year.
Argaam
an hour ago
- Argaam
16B passwords leaked in record-breaking data breach
A staggering 16 billion passwords were leaked from accounts on Facebook, Google, Apple, and other social media platforms, as well as government services, which researchers called the largest data breach in history, Forbes reported. This prompted Google to urge billions of users to change their passwords. The Federal Bureau of Investigation (FBI) also warned US citizens to avoid clicking on suspicious links received via text messages. The leak was uncovered as part of an ongoing investigation launched earlier this year by the team at Cybernews, who discovered 30 separate data sets. Experts described the incident as a coordinated mass exploitation scheme. What raised particular concern among investigators was that nearly all of the data sets contained previously unreported information, making this a completely new and unprecedented security crisis. Investigators believe the source of the breach was malware designed to harvest sensitive data from devices, including passwords saved in browsers, messaging apps, and cryptocurrency wallets.
Argaam
6 hours ago
- Business
- Argaam
Oil could surge to $90 if Strait of Hormuz closed: Citigroup
Brent crude could jump to around $90 a barrel if the Strait of Hormuz is shut, according to Citigroup Inc. 'Any closure of the Strait could lead to a sharp price spike,' analysts including Anthony Yuen and Eric Lee wrote in a note, citing the bank's current bullish case scenario. This is due to the strategic importance of the Strait of Hormuz, which accounted for more than a quarter of global seaborne oil trade last year and in the first quarter of 2025. Any disruption to Iranian crude exports could have a smaller price impact than expected, according to Citigroup. The country's shipments have been falling and Chinese refineries are buying less, the bank said.
Argaam
16 hours ago
- Politics
- Argaam
Trump says to decide on Iran action in next 2 weeks
The White House said President Trump will make a decision on potential strikes on Iran "within two weeks." Citing a message from Trump, White House Press Secretary Karoline Leavitt told reporters: "Based on the fact that there's a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks."
