Oil Updates — crude steadies as market weighs up supply risks
Trump cuts deadline, vows sanctions if Russia makes no progress
Supply risks rise over US warning to China over Russian oil
China unlikely to comply with US sanctions, analysts say
Updated 30 July 2025
Reuters
LONDON: Oil prices steadied on Wednesday as investors awaited developments on US President Donald Trump’s tighter deadline for Russia to end the war in Ukraine and his tariff threats to countries that trade its oil.
The most active Brent crude futures were down 5 cents or about 0.1 percent, at $71.63 a barrel by 2:26 p.m. Saudi time while US West Texas Intermediate crude slipped 5 cents to $69.61.
The Brent crude September contract that expires on Wednesday was steady at $72.50.
Both contracts had fallen nearly 1 percent earlier in the day.
“Events in the last few days have moved the needle a touch more, but we still appear to be somewhat rangebound and testing the next resistance level,” said Rystad Energy analyst Janiv Shah.
Trump had said on Tuesday that he would start imposing measures on Russia, such as secondary tariffs of 100 percent on trading partners, if it did not make progress on ending the war within 10 to 12 days, moving up from an earlier 50-day deadline.
The US also warned China, the largest buyer of Russian oil, that it could face huge tariffs if it kept buying, Treasury Secretary Scott Bessent told a news conference in Stockholm.
JP Morgan analysts wrote that while China was unlikely to comply with US sanctions, India has signalled it would do so, which could affect 2.3 million barrels per day of Russian oil exports.
“Oil prices reacted strongly yesterday, so there is some profit booking,” said UBS commodity analyst Giovanni Staunovo, adding that data from the American Petroleum Institute from Tuesday was also bearish for crude.
“Market participants are also taking into account that low prices and secondary sanctions/tariffs on Russia won’t work at the same time.”
US crude and distillate stocks rose last week while gasoline inventories fell, market sources said, citing API data.
“Depending on the outcome of the US-Russia discussions, tariff implementation and the OPEC+ meeting and announcement on unwinding (of output cuts), the market could see some movement,” Rystad’s Shah added.
Artificial intelligence is transitioning into a ‘digital employee’
AI can be an effective tool, business leaders tell Arab News
Not about jobs, but ‘convergence of human capital and AI’
Updated 4 sec ago
Hebshi Alshammari
RIYADH: Artificial intelligence is fundamentally reshaping the world of work, transitioning from a supporting tool to an active partner that is radically changing the nature of professions and productivity standards.
Amidst the current global transformations, an active regional digital environment is emerging.
This is being led by Saudi Arabia through Vision 2030 and massive investments in smart infrastructure, providing a living model for studying the implications of this partnership between humans and machines on the future of work in the region.
Arab News spoke to various business leaders about the emerging shape of the sector.
Salem Bagami, co-founder of Metatalent, said the ideal relationship between humans and machines at work should be complementary and collaborative.
Humans would bring creativity, emotional intelligence, and complex decision-making, while machines excel at processing big data and performing repetitive, precise tasks.
He believes that this type of balanced partnership would lead to unprecedented productivity and innovation.
While machines excel at processing big data and performing repetitive, precise tasks, humans would bring creativity, emotional intelligence, and complex decision-making. (Supplied)
Mohammad Al-Jallad, chief technologist and director at HPE, said AI has gone beyond being merely an executive tool to becoming a “digital employee” entrusted with automating routine tasks and providing insights based on data analysis.
He believes that the real opportunity lies not in the debate over job replacement, but in “the convergence of human capital and artificial intelligence.”
AI should augment human teams by taking on menial and routine tasks, enabling employees to focus on critical thinking, creativity, and ethical reasoning, significantly improving operational results.
Bagami also emphasized the complementary nature of this partnership. “The ideal relationship between humans and machines at work is one of collaboration, where each complements the others.”
He explained that humans bring creativity, emotional intelligence, and nuanced decision-making, while machines excel at processing big data and performing repetitive tasks efficiently, leading to increased productivity and innovation.
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Salem Alanazi, chairman of Jathwa Technology Co., notes a significant trend among Saudi Arabia companies toward using AI applications to provide faster services to customers at lower costs.
The emergence of the “virtual employee” available around the clock has eliminated the need for some traditional jobs in specific sectors.
Alanazi warns that some companies’ reluctance to adopt AI may expose them to real risks. “All those who hesitated to benefit from AI applications have a lack of understanding of these technologies.”
He said those who adopt these technologies will be able to offer lower-cost, higher-quality services, which will affect the market position of companies that lag behind.
Ali Aljumhour, CEO of VALUE Consultancy, said that the transition of AI into a partner has reshaped the list of most in-demand skills in the job market.
Skills such as “prompt engineering,” “human-machine integration,” and “digital ethics” are becoming increasingly important.
He added that AI has become an instantly available “technical knowledge base,” shifting the criteria for professional distinction toward those capable of smart interaction with these technologies.
In terms of ethics, transparency, and trust, Alanazi points to the complexities of global AI governance, where legislation overlaps and evolves rapidly to keep pace with potential risks, particularly in the areas of cybersecurity and privacy.
Ali Aljumhour, CEO of VALUE Consultancy. (Supplied)
Al-Jallad emphasizes this crucial dimension, noting that providing responsible and reliable AI solutions that meet the highest standards of transparency is a key priority, especially in regulated sectors.
Bagami believes there should be basic standards for the ethical use of Al, emphasizing the need for transparency, accountability, and fairness, along with using diverse data sets to prevent bias and protect privacy.
He believes that building trust between humans and machines requires clear explanations of how systems work, giving users the opportunity to provide feedback and conducting periodic performance reviews.
On performance evaluation, Aljumhour said: “I expect radical changes in standards, shifting from measuring individual effort to evaluating the quality of the partnership between humans and machines.”
There should be a focus on the quality of inputs provided to intelligent systems, the accuracy of review and modification, and complex decision-making based on outputs.
He warns, however, of new risks that may arise, such as over-reliance on AI or difficulty in determining responsibility for mistakes.
In the employment sector, Aljumhour expects fundamental changes in standards.
There will be questions and tests focusing on measuring skills in dealing with AI, such as asking candidates about their experiences of collaborating with these systems, or testing their ability to formulate effective requests for complex tasks.
Aljumhour identifies significant human challenges in this transition, with “fear, loss of power, and exclusivity of knowledge” being the biggest concerns for experienced employees.