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Bullish bets on rising US oil prices plunged to a 16-year low as mounting expectations of an oversupplied market and cooling fears of sanctions on Russian crude prompted a sharp pullback by traders.

Net-long positions in West Texas Intermediate futures dropped by nearly 30,000 contracts in a single week, reaching just over 49,000—a level not seen since 2009. The shift came amid forecasts from the International Energy Agency and the US government signalling that global oil supplies will outstrip demand well into 2026, tipping sentiment decisively bearish.

Analysts have noted that expectations of Russian sanctions are beginning to fade. While geopolitical risks had earlier supported price premiums, markets now reckon that even if sanctions are imposed, ample spare capacity among OPEC+ producers and resilient non-OPEC output would cushion any disruptions. Compounding the downward pressure, the US Energy Information Administration reported an unexpected build of 3 million barrels in crude inventories, further weighing on prices.

The retreat in bullish positions is consistent with a broader narrative of abundant supply. In late July, hedge funds slashed their net-long WTI positions to their lowest since mid-April, driven by OPEC+ ramping up production and a surge in US crude stockpiles—a rise of 7.7 million barrels recorded at the end of July. Earlier in the year, speculators trimmed net-long holdings by half over a five-week span amid deteriorating technical outlooks, trade-war concerns and expectations that OPEC+ would taper production cuts.

Despite these bearish trends, forecasters caution that demand could provide occasional counter-currents. Wildfires in Canada have temporarily removed around 350,000 barrels per day of oil from production, supporting prices in the short term. Meanwhile, geopolitical flashpoints—including tensions around Iran’s nuclear programme and Russian export vulnerability—could intermittently bolster outlooks. But with OPEC+ intent on increasing output—for example, by 411,000 barrels per day in July—and projections indicating a supply surplus growing to over a million barrels per day by year-end, the dominant trend remains one of oversupply.

This convergence of factors—ample supplies, fading sanctions risk, swelling US inventories and rising OPEC+ output—has catalysed a reappraisal of market dynamics by speculators. The resulting collapse in bullish positioning reflects a recalibration of expectations amid shifting fundamentals.

Narratives of tight supply have lost momentum, leading to a revaluation of oil’s near-term trajectory across trading desks worldwide.

ADNOC Group’s six publicly listed entities posted a combined net profit of USD 4.7 billion for the first half of 2025, underscoring how the widespread deployment of advanced artificial intelligence across operations has sharpened efficiency and underpinned robust growth.

At the heart of this transformation lies MEERAi, ADNOC’s proprietary AI platform. It is deployed across ADNOC Gas, ADNOC Distribution, ADNOC Drilling, ADNOC Logistics & Services, Fertiglobe and Borouge, delivering real-time, data-driven insights that are elevating decision-making and operational precision across the board.

ADNOC Gas achieved a record Q2 net income of USD 1.385 billion, marking a 16 per cent year-on-year rise, while EBITDA increased 8 per cent to USD 2.256 billion, propelled by surging local demand and operational prowess. Investors will see the payoff as the board approved an interim dividend of USD 1.792 billion, up 5 per cent, due for disbursement in September 2025. MEERAi’s impact was central in guiding the board’s strategic decisions.

ADNOC Distribution delivered its highest first-half EBITDA to date—USD 566 million, up 10 percent—with net profit climbing 12.2 percent to USD 358 million. Fuel volumes surged to a record 7.62 billion litres, and non-fuel retail gross profit lifted 14.9 percent. The AI-driven enhancements include predictive fuel-demand forecasting, intelligent assortment planning and hyper-personalised customer offerings. The company introduced MEERAi to its board for real-time strategic oversight, and it expects to distribute a USD 350 million dividend in October 2025.

ADNOC Drilling also delivered standout performance, with management attributing its ability to scale through diverse energy cycles to advanced technologies including AI. The board approved a USD 217 million second-quarter dividend in August 2025. The company is also pursuing regional expansion, including a majority stake acquisition in SLB’s land drilling business across Kuwait and Oman.

Borouge’s AI, digitalisation and technology programme generated USD 307 million in value, including an AI-powered control room in collaboration with Honeywell and integration with MEERAi. New product innovations such as medical-grade polyolefins and recyclable packaging also featured prominently.

Meanwhile, ADNOC’s broader push to harness AI is also playing a central role in its clean-energy pivot. Following earlier investments in AI tools like RoboWell and AR360, which generated USD 500 million in value and reduced around one million tonnes of CO₂ emissions between 2022 and 2023, the company is now deploying AI to advance low-carbon energy frontiers including hydrogen and carbon management, in partnership with entities such as SOCAR, Microsoft and Masdar.

Across all six listed companies, the near-term financial performance echoes the effectiveness of ADNOC’s strategy of embedding AI across both core operations and emerging markets. The unified deployment of MEERAi is not just enhancing control-room functions, but reshaping boardroom dynamics, driving smarter strategy execution, operational optimisation, emissions reduction and product innovation.

Key players in this transformation include the leadership of ADNOC Distribution, championing digital retail evolution; ADNOC Drilling’s CEO Abdulla Ateya Al Messabi, who has publicly credited AI for the company’s resilience and growth momentum; and the broader ADNOC executive team, aligning technology and energy transition goals. Their collective efforts are reinforcing ADNOC’s position as a global energy player committed to leveraging AI for sustainable value creation.

du has initiated live deployment of 5G-Advanced technology on its network, becoming the first operator in the region—and marking the United Arab Emirates as the first country—to roll out this next-generation capability in cooperation with Huawei. This accomplishment underscores du’s ambition to pioneer telecommunications innovation and strengthen the nation’s digital infrastructure.

The rollout centres on the Dual Band Active Antenna Unit, operating simultaneously in the 3.7 GHz and 2.6 GHz bands. Conceived by du and realised in collaboration with Huawei, this advanced solution merges hardware consolidation with enhanced spectrum efficiency, delivers superior network performance, and significantly trims energy consumption and carbon footprint.

According to du’s chief technology officer, the deployment represents “a monumental leap forward” for both the operator and the telecom sector in the UAE. He stressed that the milestone reflects du’s dedication to offering world-class connectivity and aligns with national objectives to position the country as a global technology leader—in parallel emphasising the importance of building sustainable, future-ready networks.

From Huawei’s perspective, Felix Liu, head of its Carrier Business for the UAE, noted that the company is honoured to support this frontier in 5G-Advanced infrastructure. He described the 5G Dual Band AAU as a flagship solution delivering outstanding network performance and user experience while resonating with the UAE’s sustainability goals.

This achievement builds on du’s history in the region’s 5G evolution. In 2024, du and Huawei introduced the Middle East’s first indoor 5G-Advanced network using three-carrier aggregation alongside Huawei’s LampSite X solution, achieving peak speeds of 5.1 Gb/s in spaces such as malls, hotels, airports, and residential buildings. Prior to that, the two companies had collaborated on a “5G-Advanced Country” initiative and unveiled a 5G-A-enabled demonstration villa featuring 10 Gbps Fixed Wireless Access and XR capabilities.

Technical advances in this live deployment include more efficient use of spectrum and reduced dependence on extensive hardware—a strategic move given the growing demand for capacity and coverage. Dual-band AAUs are expected to support dense urban environments while reducing operational energy use.

This development assumes added significance against the backdrop of the UAE’s broader digital transformation objectives. The Telecommunications and Digital Government Regulatory Authority has championed advanced 5G trials, including initiatives to unlock 10 Gbps speeds with 6 GHz spectrum, in collaboration with service providers such as du.

The industry now closely watches how the live 5G-Advanced network, powered by dual-band AAUs, will impact key user segments—whether in high-density urban zones, enterprise campuses, or immersive content scenarios. Future use cases could span ultra-high-definition streaming, real-time XR, holographic conferencing, and enhanced industrial IoT applications. du and Huawei’s previous commitment, through a memorandum of understanding, to establish a joint innovation centre to drive 5G-A adoption and incubate next-generation services indicates a clear roadmap for expanding from infrastructure to ecosystem development.

Oil prices held steady after a slight decline in thin trading, with market participants awaiting a critical meeting between US and Russian leaders. Global benchmark Brent crude remained above $66 per barrel, while West Texas Intermediate hovered around $63.

The modest drop in prices, which amounted to a 0.8% decrease in the previous session, marked a quiet period in the market as traders refrained from making significant moves. Investors are now looking ahead to upcoming discussions between US Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov. These talks are expected to set the stage for a high-stakes summit between President Joe Biden and Russian President Vladimir Putin, scheduled for later this week.

The ongoing volatility in oil markets, coupled with geopolitical uncertainty, has contributed to the recent fluctuation in prices. Despite this, oil has largely remained above the $60 per barrel mark, as tightening supplies and ongoing tensions in key production regions continue to support price levels.

Analysts are paying close attention to the diplomatic developments between the US and Russia, which could have broader implications for the energy sector. Market sentiment has been influenced by both nations’ roles as major players in global energy production and their influence on decisions within organisations such as OPEC+.

The summit will centre around various issues, including security concerns and energy policies. With both nations holding significant sway in global oil production, the discussions could have far-reaching consequences for the market. A breakthrough or escalated tension could prompt either a surge or a dip in oil prices depending on the outcome of the talks.

Investors are also looking at other global factors that could sway oil prices. In the US, the energy industry is continuing to recover from the impacts of the pandemic, with some analysts forecasting a strong rebound in demand as economies continue to reopen. However, the overall uncertainty surrounding economic recovery, inflation concerns, and ongoing supply chain issues are making the market particularly sensitive to external events.

OPEC+, the alliance of oil-producing nations, has played a significant role in stabilising prices in the past year. Its production cuts, alongside the gradual return of demand, have helped lift oil prices from the lows seen in 2020. As the group navigates production decisions and adapts to the changing landscape, it has become a crucial player in shaping the trajectory of global oil markets.

In addition to geopolitical tensions, the market is also contending with shifting dynamics in energy consumption. The growing push for renewable energy and the evolving role of electric vehicles are reshaping demand forecasts. With governments around the world pledging to reduce carbon emissions and transition towards greener energy sources, there is a growing expectation that long-term demand for fossil fuels may face pressure. This evolving energy landscape will inevitably impact the future of oil markets.

Despite these broader trends, short-term market activity is heavily influenced by supply-demand imbalances, particularly in the wake of global events. As the US and Russia prepare for their talks, traders will continue to watch for any signals of change in the balance of power within the energy sector. A shift in policy or a sudden geopolitical event could have immediate and lasting effects on oil prices.

Dubai’s real estate sector has seen a notable surge in licensed activities, with 4,049 new registrations reported in the first half of 2025. This increase highlights the city’s continuing appeal as a hub for global investment, underscoring its position as a growing economic powerhouse.

The expansion in real estate-related activities is a key indicator of investor confidence in Dubai’s property market. The city’s ongoing efforts to enhance its investment climate, alongside the development of new regulations and policies, have solidified its standing as a global player in the real estate sector. The uptick in the number of new real estate ventures reflects a broader trend of diversification in the market, as Dubai seeks to expand beyond traditional residential and commercial projects into emerging sectors like hospitality, mixed-use developments, and smart city infrastructure.

The Dubai Land Department has been instrumental in driving these developments by continuing its focus on transparency, innovation, and regulatory improvements. One of the standout features of Dubai’s property market has been its emphasis on simplifying procedures for investors, which has directly contributed to the rise in new real estate-related ventures. The DLD’s efforts to digitise property transactions and improve investor accessibility have been particularly significant in this regard.

Dubai’s status as a business-friendly environment has also played a critical role in attracting international investors. Policies such as long-term residency visas, 100% foreign ownership in certain sectors, and reforms in property ownership laws have all enhanced the city’s attractiveness to global capital. The emirate’s strategic location, offering easy access to both Eastern and Western markets, has further positioned it as a key destination for multinational companies and high-net-worth individuals looking to invest in its growing real estate sector.

Dubai’s commitment to diversification has allowed it to weather global economic fluctuations better than many other markets. The emirate’s drive towards sustainability and innovation in urban planning has led to the development of numerous smart city projects, which blend residential, commercial, and leisure spaces in ways that appeal to both investors and residents. These initiatives have attracted attention from international real estate developers who view Dubai as a model for the future of urban living.

The diversification of Dubai’s real estate market is not limited to the types of properties being developed, but also to the services and amenities that accompany them. The growing prominence of serviced apartments, co-working spaces, and eco-friendly developments shows that the market is increasingly catering to a wide range of needs. The ongoing shift towards more integrated communities reflects broader global trends, such as the rise in remote working and demand for work-life balance.

Dubai’s real estate sector has also been buoyed by its ambitious infrastructure projects, such as the expansion of its transport network, the Dubai Expo City, and the upcoming World Expo 2030, which is expected to bring even more global attention and investment to the emirate. The government’s plans to develop future-focused infrastructure align with global trends in technology, sustainability, and connectivity, positioning the city as a model for future urban development.

Investor interest in Dubai’s property market is further supported by the city’s relatively stable macroeconomic environment. The UAE’s strong economic performance, backed by diversification efforts in sectors like tourism, technology, and renewable energy, continues to drive demand for commercial and residential properties alike. Despite global uncertainties, the Dubai real estate market remains a safe haven for investors, thanks to its robust regulatory framework, investor-friendly policies, and a growing base of international buyers.

Santos has agreed to extend the exclusive due diligence period for its proposed $18.7 billion acquisition by an international consortium led by Abu Dhabi’s National Oil Company. The extension, which will last until August 22, follows ADNOC’s initial offer made in June to purchase Australia’s second-largest gas producer. The consortium’s offer, priced at $5.76 per Santos share, includes ADNOC’s investment arm XRG, Abu Dhabi Development Holding Company, and the private equity firm Carlyle.

The agreement marks a significant step in ADNOC’s strategy to expand its global portfolio, particularly in the energy-rich Australian market. ADNOC, which has shown increasing interest in diversifying its energy assets, is now in the midst of an exclusive window to scrutinise the deal further. This process allows the consortium to continue its due diligence without competing offers interfering, a critical phase before a final agreement can be reached.

The initial bid, which valued Santos at approximately $18.7 billion, garnered attention for its scale and ambition. The offer of $5.76 per share represents a premium over Santos’ market value at the time the proposal was made. As the deal progresses, market observers are watching closely for any developments that might influence the final terms.

Santos, headquartered in Adelaide, is a key player in the Australian energy sector, with substantial stakes in natural gas fields and LNG projects. The company’s assets are seen as valuable in the context of rising global energy demands, particularly in Asia-Pacific markets. Santos has been working to strengthen its position in the energy sector, with a focus on cleaner energy options while maintaining its role as a major fossil fuel supplier.

The involvement of ADNOC in this deal is particularly noteworthy. ADNOC, already a dominant player in the global oil and gas industry, has been exploring opportunities outside of the Middle East as part of its broader strategy to secure energy assets worldwide. The consortium’s bid for Santos highlights ADNOC’s intentions to further diversify its portfolio, especially in the burgeoning Asia-Pacific energy market.

ADQ, Abu Dhabi’s sovereign wealth fund, has also been actively investing in international markets. Known for its strategic acquisitions, ADQ’s partnership with ADNOC on this deal strengthens its position in global energy investments. Carlyle, a prominent private equity firm, adds another layer of financial muscle to the consortium, indicating the serious intent behind the bid.

The extended due diligence period provides all parties involved the time needed to ensure that the terms of the acquisition are fully evaluated. This includes a detailed analysis of Santos’ financial health, operations, and future prospects. The due diligence process is critical to determining whether the proposed offer is fair and in line with the long-term strategic goals of ADNOC and its partners.

Although the extension has been granted, market analysts remain cautious. They are closely monitoring how global energy market fluctuations might impact the deal’s progression. The energy sector, while lucrative, remains volatile, influenced by factors such as shifting geopolitical landscapes, regulatory changes, and the ongoing transition towards renewable energy sources.

In addition to financial considerations, the deal’s strategic value for ADNOC and its partners cannot be understated. For ADNOC, securing a larger foothold in Australia’s gas sector could provide both immediate returns and long-term stability, particularly in the face of fluctuating oil prices. Furthermore, as global energy companies look to meet the growing demand for liquefied natural gas, the acquisition of Santos could bolster ADNOC’s LNG production capabilities.

Santos’ shareholders will also be closely watching the developments, with many likely to evaluate the offer in light of the company’s future growth potential. Santos has been positioning itself to leverage Australia’s growing demand for LNG, particularly from China and Japan, two of the world’s largest LNG importers. However, concerns over the impact of external factors on the gas market could complicate the evaluation of such an offer.