The 30-year deal may allow Saudi Arabia to develop uranium enrichment capabilities, boosting oil-linked energy markets.
US President Donald Trump approved a 30-year nuclear agreement with Saudi Arabia, potentially enabling the kingdom to enrich uranium for civilian use. The deal, valued at tens of billions of dollars, could involve US firms in constructing enrichment facilities following a joint study.
Saudi Arabia’s push for nuclear energy aligns with its broader economic diversification efforts, reducing reliance on oil revenues. The agreement follows years of negotiations, with prior discussions stalling over non-proliferation safeguards and technology transfer terms.
West Texas Intermediate crude rose 0.70% to $84.80 amid expectations the deal could stabilize long-term energy markets and demand dynamics.