Crude oil prices rose to their highest in three weeks on hopes for a pact among oil producers to cut output, while the dollar slipped on bets that interest rate hikes by the Federal Reserve would be more gradual than it has suggested.
Oil prices and global equity markets rebounded on Thursday, following a turbulent few days that wiped trillions of dollars off asset values, though it was unclear whether the vigorous selling action had come to an end.
Crude oil futures rose on Friday, adding to their biggest one-day rally in over six years the day before, led by recovering equity markets and news of diminished crude supplies.
US crude are on track for their
Oil prices edged up on Friday after closing at their lowest in months in the previous session as oversupply and disappointing Chinese factory activity dragged on the market.
Oil prices in the US have slumped more than 20 per cent
A Bahraini who suffers from Parkinson's disease has made it to the top of Mount Kilimanjaro, in Tanzania, for the second time in just over a year.
Businessman Ahmed Jaffer, 59, climbed 5,895 metres to reach the summit of Mount
Oil prices are set to climb higher in the second quarter of the year, because the excess oil would have been consumed and global balance between supply and demand would be stabilised, according to experts.
The petrochemical sector
Brent crude climbed above $106 per barrel on Wednesday, recovering some lost ground after oil was hit by speculation the US Federal Reserve may soon start to reduce its monetary stimulus and expectations of a build-up in US crude stocks.
Apple's profit and margins slid despite selling 33.8 million iPhones in its September quarter, and greater China revenue climbed just 6 per cent even though two smartphone models hit store shelves in its second-largest market last month.
Burj Dubai, the world's tallest building developed by Emaar Properties, which is on course to open in 2009, has reached a record 780 metres (2,559 ft) height, and has over 160 storeys, the most number of floors in any building.
Annual inflation in Abu Dhabi, the largest member of the UAE federation, jumped to 11.5 per cent in March, up from 10.7 per cent in December, driven by rent and food costs, according to an official report.
The first-quarter index for rents