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‏NEOM Meets with Business Community in the United States

NEOM concluded a series of "Discover NEOM" events with investors and business partners in the United States. (SPA)
NEOM concluded a series of "Discover NEOM" events with investors and business partners in the United States. (SPA)
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‏NEOM Meets with Business Community in the United States

NEOM concluded a series of "Discover NEOM" events with investors and business partners in the United States. (SPA)
NEOM concluded a series of "Discover NEOM" events with investors and business partners in the United States. (SPA)

NEOM has concluded a series of "Discover NEOM" events with investors and business partners in the United States as part of its ongoing efforts to highlight the project’s latest developments and explore investment opportunities, reported the Saudi Press Agency.

CEO of NEOM, Nadhmi Al-Nasr said: "We came to the United States to explore the significant market opportunities that NEOM presents to American corporations, to showcase the great progress NEOM has made and to discuss how we can best support the collaborative international effort to address global challenges."

"The events were attended by over 700 business, financial, investment, environment and sustainability, technology and manufacturing leaders. NEOM looks forward to the meaningful partnerships that will be forged out of our US visit and the investment opportunities it will bring to NEOM and Saudi Arabia supported by the guidance of Crown Prince Mohammed bin Salman."

During the US visit, NEOM held a special event at the Saudi Embassy in Washington, DC to honor students on NEOM’s scholarship program, in the presence of the Saudi Ambassador to the US, Princess Reema bint Bandar Al-Saud. The event celebrated students from NEOM and Tabuk in a show of support, motivation and empowerment, reflecting the Saudi leadership’s belief in its youth as today’s partners and tomorrow’s leaders.

‏"Discover NEOM" is the name for a series of world events that included a similar event held in London late last year to showcase NEOM and explore investment opportunities with potential partners from all sectors. NEOM plans to expand its events to reach more destinations all over the globe.

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Oil Up as Israel, Hezbollah Trade Accusations of Ceasefire Violation

FILE - An aurora borealis, also known as the northern lights, makes an appearance over pumpjacks as they draw out oil and gas from well heads near Cremona, Alberta, Thursday, Oct. 10, 2024. (Jeff McIntosh/The Canadian Press via AP, File)
FILE - An aurora borealis, also known as the northern lights, makes an appearance over pumpjacks as they draw out oil and gas from well heads near Cremona, Alberta, Thursday, Oct. 10, 2024. (Jeff McIntosh/The Canadian Press via AP, File)
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Oil Up as Israel, Hezbollah Trade Accusations of Ceasefire Violation

FILE - An aurora borealis, also known as the northern lights, makes an appearance over pumpjacks as they draw out oil and gas from well heads near Cremona, Alberta, Thursday, Oct. 10, 2024. (Jeff McIntosh/The Canadian Press via AP, File)
FILE - An aurora borealis, also known as the northern lights, makes an appearance over pumpjacks as they draw out oil and gas from well heads near Cremona, Alberta, Thursday, Oct. 10, 2024. (Jeff McIntosh/The Canadian Press via AP, File)

Oil prices ticked up on Thursday after Israel and Lebanon’s Hezbollah traded accusations that their ceasefire had been violated, and as Israeli tanks fired on south Lebanon.

OPEC+ also delayed by a few days a meeting likely to extend production cuts.

Brent crude futures edged up by 30 cents, or 0.4%, to $73.13 a barrel by 1741 GMT. US West Texas Intermediate crude futures were up 23 cents, 0.3%, at $68.93. Trading was thin because of the US Thanksgiving holiday, Reuters reported.
Israel's military said the ceasefire was violated after what it called suspects, some in vehicles, arrived at several areas in the southern zone.
The deal, which took effect on Wednesday, was intended to allow people in both countries to start returning to homes in border areas shattered by 14 months of fighting.
The Middle East is one of the world's major oil-producing regions, and while the ongoing conflict has not so far not impacted supply it has been reflected in a risk premium for traders.
Elsewhere, OPEC+, comprising the Organization of the Petroleum Exporting Countries and allies including Russia, delayed its next policy meeting to Dec. 5 from Dec. 1 to avoid a conflict with another event.
Also supporting prices, OPEC+ sources have said there will again be discussion over another delay to an oil output increase scheduled for January.
"It's highly unlikely they are going to announce an increase production at this meeting," said Rory Johnston, analyst at Commodity Context.
The group pumps about half the world's oil but has maintained production cuts to support prices. It hopes to unwind those cuts, but weak global demand has forced it to delay the start of gradual increases.
A further delay has mostly been factored in to oil prices already, said Suvro Sarkar at DBS Bank. "The only question is whether it's a one-month pushback, or three, or even longer."
Depressing prices slightly, US gasoline stocks rose 3.3 million barrels in the week ending Nov. 22, the US Energy Information Administration said on Wednesday, countering expectations of a small draw in fuel stocks ahead of holiday travel.
Slowing fuel demand growth in top consumers China and the US has weighed on oil prices this year.