Saudi Ambassador to US to Chair Int’l Women in Defense Program at World Defense Show

Saudi Ambassador to the United States Princess Reema bint Bandar bin Sultan bin Abdulaziz will chair the International Women in Defense Program at the World Defense Show 2024 in Riyadh. (World Defense Show)
Saudi Ambassador to the United States Princess Reema bint Bandar bin Sultan bin Abdulaziz will chair the International Women in Defense Program at the World Defense Show 2024 in Riyadh. (World Defense Show)
TT

Saudi Ambassador to US to Chair Int’l Women in Defense Program at World Defense Show

Saudi Ambassador to the United States Princess Reema bint Bandar bin Sultan bin Abdulaziz will chair the International Women in Defense Program at the World Defense Show 2024 in Riyadh. (World Defense Show)
Saudi Ambassador to the United States Princess Reema bint Bandar bin Sultan bin Abdulaziz will chair the International Women in Defense Program at the World Defense Show 2024 in Riyadh. (World Defense Show)

Saudi Ambassador to the United States Princess Reema bint Bandar bin Sultan bin Abdulaziz will chair the International Women in Defense Program, which aims to promote women's participation and celebrate their significant role in the defense sector.

The program is part of the upcoming World Defense Show 2024 that will be held in Riyadh in February under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al-Saud.

A press release from the organizers of the show quotes Princess Reema as emphasizing the Kingdom's commitment to promoting and supporting women's endeavors in all sectors, including in defense and security.

She highlighted the importance of empowering and integrating women in the Saudi labor market, as outlined in Saudi Vision 2030, adding that there have already been successful examples of women achieving excellence in different fields.

She underlined that such programs generate global momentum and reflect the Saudi government's commitment to empowering and boosting women's participation in all spheres.

The Women in Defense Program serves as a platform that increases opportunities to contribute to this ongoing success, she stated.

The program will bring together women CEOs and leaders from different countries to highlight their achievements, address challenges, and explore their contributions to the defense sector through a series of seminars and discussions.



Oil Prices Steady as Markets Weigh Demand against US Inventories

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
TT

Oil Prices Steady as Markets Weigh Demand against US Inventories

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil prices were little changed on Thursday as investors weighed firm winter fuel demand expectations against large US fuel inventories and macroeconomic concerns.

Brent crude futures were down 3 cents at $76.13 a barrel by 1003 GMT. US West Texas Intermediate crude futures dipped 10 cents to $73.22.

Both benchmarks fell more than 1% on Wednesday as a stronger dollar and a bigger than expected rise in US fuel stockpiles pressured prices.

"The oil market is still grappling with opposite forces - seasonal demand to support the bulls and macro data that supports a stronger US dollar in the medium term ... that can put a ceiling to prevent the bulls from advancing further," said OANDA senior market analyst Kelvin Wong.

JPMorgan analysts expect oil demand for January to expand by 1.4 million barrels per day (bpd) year on year to 101.4 million bpd, primarily driven by increased use of heating fuels in the Northern Hemisphere.

"Global oil demand is expected to remain strong throughout January, fuelled by colder than normal winter conditions that are boosting heating fuel consumption, as well as an earlier onset of travel activities in China for the Lunar New Year holidays," the analysts said.

The market structure in Brent futures is also indicating that traders are becoming more concerned about supply tightening at the same time demand is increasing.

The premium of the front-month Brent contract over the six-month contract reached its widest since August on Wednesday. A widening of this backwardation, when futures for prompt delivery are higher than for later delivery, typically indicates that supply is declining or demand is increasing.

Nevertheless, official Energy Information Administration (EIA) data showed rising gasoline and distillates stockpiles in the United States last week.

The dollar strengthened further on Thursday, underpinned by rising Treasury yields ahead of US President-elect Donald Trump's entrance into the White House on Jan. 20.

Looking ahead, WTI crude oil is expected to oscillate within a range of $67.55 to $77.95 into February as the market awaits more clarity on Trump's administration policies and fresh fiscal stimulus measures out of China, OANDA's Wong said.