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The U.S. State Department said on Friday it had approved the potential sale of Joint Direct Attack Munitions-Extend Range to Saudi Arabia for an estimated $5 billion.
Six months into the U.S.-Iran war, Qatar is among the conflict's biggest economic casualties, with its liquefied natural gas exports slashed by 96%, data shows.
Several of SpaceX's biggest investors have made themselves known. The biggest backers of Elon Musk's company include Alphabet, Nvidia, and Saudi Arabia.
Empowered Funds LLC purchased a new position in shares of iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,406 shares of the company's stock, valued at approximately $573,000. Empowered Funds LLC
The iShares MSCI Saudi Arabia ETF offers liquid, cap-weighted exposure to Saudi equities, heavily skewed toward financials and the oil value chain. KSA's 0.75% expense ratio is notably higher than similar alternatives like FLSA, making it less attractive for Saudi exposure. Yield curve flattening and rising short-term rates threaten bank profitability, which dominates KSA's portfolio; the oil sector faces geopolitical and supply risks but price upside.
Saudi Aramco has offered additional crude cargoes for loading from Egypt's Mediterranean port of Sidi Kerir, according to five trading sources, signalling a potential shift in export routes as Houthi threats to shipping raise risks for oil movements through the Red Sea and the Bab el-Mandeb strait.
Saudi Arabia is considering expanding the capacity of its crude oil pipeline to the western Red Sea coast, five sources close to the matter said, enabling the kingdom and possibly neighbours to transport more oil without crossing the Strait of Hormuz.
At least five supertankers carrying a total 10 million barrels of Saudi oil loaded from Ras Tanura have exited the Strait of Hormuz, with Saudi Aramco switching to spot pricing to speed sales in Asia, according to trade sources and shipping data.