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Riyadh Metro Launches Red and Green Lines

The Red Line is 25.1 kilometers long while the Green Line is 13.3 kilometers long. SPA
The Red Line is 25.1 kilometers long while the Green Line is 13.3 kilometers long. SPA
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Riyadh Metro Launches Red and Green Lines

The Red Line is 25.1 kilometers long while the Green Line is 13.3 kilometers long. SPA
The Red Line is 25.1 kilometers long while the Green Line is 13.3 kilometers long. SPA

The Royal Commission for Riyadh City (RCRC) announced the roll-out of two additional lines (Red: King Abdullah Road, and Green: King Abdulaziz Road) of the Riyadh Metro on Sunday; passengers have access to stations on the two lines from 6:00 am to 12:00 am.
Five out of the six metro lines are now operational.
The Red Line is 25.1 kilometers long, and runs from east to west along King Abdullah Road, connecting King Fahd Sports City to King Saud University across 15 stations, including the Riyadh International Convention and Exhibition Center.
It intersects with the Blue Line at the STC Station, with the Green Line at the Ministry of Education Station, and with the Purple Line at Al Hamra Station.
The Green Line, King Abdulaziz Road, is 13.3 kilometers long, and runs from King Abdullah Road along the Ministry of Education all the way to the National Museum.
Its 12 stations serve several government entities, including the Ministry of Defense, the Ministry of Finance, and the Ministry of Commerce, as well as several commercial, service, and residential facilities.
All stations on the line will be open to the public on Sunday, except the Ministry of Finance and the National Museum stations, which will be operational at a later date.
The Green Line intersects with the Red Line at the Ministry of Education Station, and with the Blue Line at the National Museum Station.
According to the previously announced roll-out plan, the Orange Line (which covers Madinah Road) will open on January 5, 2025, making the Riyadh Metro network fully operational.
Passengers may identify destinations and purchase tickets using the “Darb” mobile application or at the Riyadh Metro stations.

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Business

Oil Edges Up ahead of US Fed Rate Decision, 2025 Outlook

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 Edges Up ahead of US Fed Rate Decision, 2025 Outlook

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 edged up on Wednesday as a drop in US crude inventories offered some support, although investors stayed cautious ahead of a potential interest rate cut by the US Federal Reserve and its projections for 2025.

Brent futures rose 53 cents, or 0.7%, to $73.72 a barrel at 1436 GMT, while US West Texas Intermediate crude climbed 54 cents, or 0.8%, to $70.62.

The Fed is expected to cut rates by a quarter point, but to signal a cautious approach to loosening monetary policy next year.

"A quarter-point cut itself is unlikely to shake markets much. Investors may focus more on hints and clues on how likely a January pause is, as well as on how many rate cuts policymakers are contemplating throughout 2025," said Charalampos Pissouros, senior investment analyst at brokerage XM, Reuters reported.

The US central bank will release its policy statement at 2 p.m. ET (1900 GMT), followed by remarks from Chair Jerome Powell.

Lower rates decrease borrowing costs, which can boost economic growth and demand for oil.

"Oil prices ought to see more of a reaction to the crude inventory draw seen in the API data overnight... however, such is the diverting power of central bank rate decisions that investors in all of the trading mediums are taking a very light touch to proceedings" said John Evans, analyst with oil broker PVM.

In the US, American Petroleum Institute data on Tuesday showed that crude stocks fell by 4.69 million barrels in the week ended Dec. 13, a source said. Gasoline inventories rose by 2.45 million barrels, and distillate stocks rose by 744,000 barrels, according to the source.

Analysts projected US energy firms pulled about 1.6 million barrels of crude from storage during the week ended Dec. 13, according to a Reuters poll on Tuesday.

The US Energy Information Administration will release its oil storage data on Wednesday.

"Trade war fears and uncertainty on how aggressively the US Fed will cut interest rates next year is likely capping the upside for now," UBS analyst Giovanni Staunovo said.