LONDON: Oil prices fell on Wednesday, following a rise in US crude stockpiles and easing worries over Libyan supply, while focus turned to potential US tariffs on Canadian and Mexican imports.
Brent crude futures were down 59 cents, or 0.76 percent, to $77.90 a barrel as of 0916 GMT, while US crude futures had lost 55 cents, or 0.75 percent, at $73.22.
The White House said on Tuesday that US President Donald Trump still plans to issue 25 percent tariffs on Canada and Mexico on Saturday.
“Crude prices keep dancing to the rhythm of Trump’s tariff orchestra, with Canada tariffs going into effect on Saturday potentially lifting US prices then,” said Ole Hansen, head of commodity strategy at Saxo Bank.
Canada supplied 3.9 million barrels per day of oil to the US in 2023, roughly half of overall imports for the year, while Mexico supplied 733,000 bpd, according to data from the Energy Information Administration.
“Overall, trade prices are a tad softer after Libya said exports have resumed, and API reported a weekly increase in US stockpiles. In addition, OPEC+ is expected to stick to their already announced production increase from April,” said Hansen.
US crude oil and gasoline stocks rose last week, while distillate inventories fell, market sources said on Tuesday, citing American Petroleum Institute figures.
The EIA, the statistical arm of the US Department of Energy, is due to release its weekly data at 1530 GMT on Wednesday.
Supply concerns eased after Libya’s National Oil Corp. said on Tuesday that export activity was running normally after it held talks with protesters demanding a halt of loadings at one of its main oil ports.
The OPEC+ Joint Ministerial Monitoring Committee meeting next Monday, will be another source of ambiguity in the current worryingly unpredictable political and economic environment, said Tamas Varga, analyst with oil broker PVM.
Saudi Arabia’s energy minister and several of his OPEC+ counterparts have held talks following Trump’s call for lower oil prices and ahead of a meeting next week of OPEC+ oil-producing countries, according to official statements and sources.
Oil Updates — prices dip as US crude inventories surge, tariff concerns loom
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Oil Updates — prices dip as US crude inventories surge, tariff concerns loom
- US President Donald Trump still plans to issue 25% tariffs on Canada and Mexico on Saturday
- Saudi energy minister and several of his OPEC+ counterparts have held talks following Trump’s call for lower oil prices
Saudi Arabia leads outcome-based education to prepare future-ready generations: Harvard Business Review
- The Riyadh-based school group developed a strategy that links every classroom activity to measurable student competencies, aiming to graduate learners equipped for the digital economy and real-world contexts
RIYADH: Saudi Arabia’s education system is undergoing a sweeping transformation aligned with Vision 2030, shifting from traditional, input-focused methods to outcome-based education designed to equip students with future-ready skills, Harvard Business Review Arabic reported.
The transformation is being adopted and spearheaded by institutions such as Al-Nobala Private Schools, which introduced the Kingdom’s first national “learning outcomes framework,” aimed at preparing a generation of leaders and innovators for an AI-driven future, the report said.
Al-Nobala has leveraged international expertise to localize advanced learning methodologies.
The Riyadh-based school group developed a strategy that links every classroom activity to measurable student competencies, aiming to graduate learners equipped for the digital economy and real-world contexts. The school’s group approach combines traditional values with 21st-century skills such as critical thinking, communication, innovation and digital fluency.
According to the report, the shift addresses the growing gap between outdated models built for low-tech, resource-constrained environments and today’s dynamic world, where learners must navigate real-time information, virtual platforms, and smart technologies.
“This is not just about teaching content, it’s about creating impact,” the report noted, citing how Al-Nobala’s model prepares students to thrive in an AI-driven world while aligning with national priorities.
The report noted that Saudi Arabia’s Ministry of Education has paved the way for this shift by transitioning from a centralized controller to a strategic enabler, allowing schools such as Al-Nobala to tailor their curriculum to meet evolving market and societal needs. This is part of the long-term goal to place the Kingdom among the top 20 global education systems.
Al-Nobala’s work, the report stated, has succeeded in serving the broader national effort to link education outcomes directly to labor market demands, helping to fulfill the Vision 2030 pillar of building a vibrant society with a thriving economy driven by knowledge and innovation.
Last February, Yousef bin Abdullah Al-Benyan, Saudi Arabia’s minister of education, said that the Kingdom was making “an unprecedented investment in education,” with spending aligned to the needs of growth and development. He said that in 2025, education received the second-largest share of the state budget, totaling $53.5 billion.
