Gulf Air Launches First Flight to AlUla International Airport

The Royal Commission for AlUla (RCU) is targeting broadening air connectivity with various international and local destinations, and transforming AlUla into a global logistics hub in northwestern Saudi Arabia. (SPA)
The Royal Commission for AlUla (RCU) is targeting broadening air connectivity with various international and local destinations, and transforming AlUla into a global logistics hub in northwestern Saudi Arabia. (SPA)
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Gulf Air Launches First Flight to AlUla International Airport

The Royal Commission for AlUla (RCU) is targeting broadening air connectivity with various international and local destinations, and transforming AlUla into a global logistics hub in northwestern Saudi Arabia. (SPA)
The Royal Commission for AlUla (RCU) is targeting broadening air connectivity with various international and local destinations, and transforming AlUla into a global logistics hub in northwestern Saudi Arabia. (SPA)

Gulf Air, Bahrain’s national carrier, launched on Saturday its first-ever flight to AlUla International Airport, from where the company will operate direct Bahrain-AlUla flights twice a week, from February 3 to March 6, and from April 10 to April 27, on board Gulf Air A320neo aircraft.

The Royal Commission for AlUla (RCU) is targeting broadening air connectivity with various international and local destinations, and transforming AlUla into a global logistics hub in northwestern Saudi Arabia.

Vice President of Destination Marketing and Management Office at RCU Rami Almoallim said: “We are pleased to welcome new visitors on their journey to AlUla, which offers a cultural and tourism experience."

He added that the inclusion of AlUla among Gulf Air’s main seasonal destinations for the current year is proof of the attraction this historic site has for tourists.

“This also helps our endeavors to facilitate access to AlUla as a destination via direct international flights from neighboring international aviation hubs," he added.

Several projects were carried out at AlUla International Airport in recent years to improve its services. The airport joined the list of international airports in March 2021. The total area of the airport was expanded to nearly 2.4 million square meters, and the airport’s flight deck can accommodate up to 15 aircraft at a time.

Enhancing aviation operations and developing the infrastructure of the airport aligns with AlUla’s goals of receiving two million visitors annually by 2035, utilizing a pioneering model of practical and sustainable tourism strategy.

Saudi airlines expanded the scope of its flights to AlUla International Airport linking it with Europe by operating flights with Paris, and adding international destinations to it, from Dubai, Doha, and Cairo.



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)
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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.