entered

RIYADH: A total of 114 racing camels worth an estimated SR270 million to SR492 million ($72 million to $131 million) entered to compete in the four final rounds of the Crown Prince Camel Festival in Taif, the Saudi Press Agency reported.

The festival’s closing program featured four championship races, with 35 camels entered in the first round, 13 in the second, 46 in the third, and 20 in the fourth.

The event, organized by the Saudi Camel Federation under the patronage of Crown Prince Mohammed bin Salman, offered SR50 million in prize money and attracted leading owners and competitors from across Saudi Arabia and the Gulf.

The festival’s most prestigious trophies, Al-Saif (Sword) and Al-Bunduq (Rifle), are awarded in the elite Hiyl (female camel) and Zumoul (male camel) championship races. Winning either title significantly enhances a camel’s prestige, breeding value, and market price.

Camel owner and racing specialist Abdullah Al-Sharif said the market value of a single camel competing in the Hiyl category typically ranges from SR3 million to SR6 million.

In the Zumoul category, camels are valued at between SR1.5 million and SR2 million.

Some elite camels command prices ranging from SR7 million to SR8 million, depending on their racing record, results, and bloodlines.

Qualifying for the closing championship trophy rounds can significantly increase a camel’s value, with previous achievements, breeding potential, lineage, prize money, and the level of competition all influencing market prices, Al-Sharif added.

Saudi Camel Sports spokesperson Murdhi Al-Khamaali said the festival has helped promote authentic Arab culture globally by bringing together traditions from Saudi Arabia, the Gulf, and the wider Arab world.

He said the event has grown beyond a sporting competition to become an economic, social, and cultural movement, while also helping revive Taif’s historical and cultural heritage.

Al-Khamaali added that bearing the name of the crown prince has transformed the festival into a cultural and economic destination for camel owners from across the Kingdom and the Gulf.

He said the festival’s rapid growth reflects its expanding importance as a platform for preserving heritage and supporting economic activity. Since its launch in 2018, the event has attracted more than 100,000 camels and earned multiple Guinness World Records titles.

The seventh edition in 2025 marked a major milestone, with participation surpassing 100,000 camels, building on the nearly 99,000 camels recorded across earlier editions.

The festival was recognized by Guinness World Records in 2024 for hosting the world’s largest camel race, with 21,637 camels participating. Held during the Kingdom’s “Year of the Camel,” the event highlighted the animal’s enduring cultural significance across the Arabian Peninsula.

The festival has also received several major accolades, including four Guinness World Records titles and the Makkah Economic Excellence Award in 2023, recognizing its contribution to cultural preservation, economic development, and the promotion of Saudi heritage.

In a separate update issued ahead of the finale, festival results showed Saudi-owned camels leading the standings with victories in 131 heats during the eighth edition.

Saudi-owned camels recorded 47 wins in the Al-Haqayiq category, 21 in Al-Laqaya, 15 in Al-Jadha’a, and nine in Al-Thnaya, for a combined total of 92 victories. They also secured 35 wins in the Intaj Al-Saudiyya races and four in the Sibaq Al-Hajjanah category, bringing their overall tally to 131 wins.

Emirati-owned camels ranked second with 35 victories, followed by Qatar with 27. Kuwaiti and Omani owners recorded three wins each, while Bahrain registered one victory.

WASHINGTON — President Trump on Friday said the U.S. has entered an agreement with Venezuela to take control of 65 billion barrels of the South American country’s oil reserves.

Trump in a social media post announced the agreement he said was negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and Venezuela’s interim President Delcy Rodríguez.

“The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!” Trump wrote.

The Venezuelan government’s press office did not immediately respond to a request for comment.

The announcement of the deal comes nearly nine months after the U.S. military at Trump’s direction carried out an operation to capture Venezuela’s president Nicolás Maduro and spirit him to the United States to face federal narcoterrorism and drug trafficking charges.

Trump faces mounting pressure to address high gas prices as the war in Iran on Friday reached a six-month milestone with no conclusion in sight. The U.S. has tapped its strategic petroleum reserves, which in early August fell below 300 million barrels, down by more than 100 million barrels since the start of 2026.

The U.S.-Israel war against Iran has led to a dramatic slowdown of Gulf oil moving through the Strait of Hormuz, which about 20% of the world petroleum passed through prior to the conflict.

The average price of gas in the U.S. stood at about $4.09 a gallon on Friday, according to AAA. The average price was $3.21 at the same time last year.

Trump in his social media post Friday evening alluded to the Venezuela deal being part of a private partnership. The White House did not immediately reply to a request for comment about the private sector partners involved in the deal, and details on how the arrangement would work were not provided.

Persuading big American oil companies to return the region could face headwinds given and decades of badly damaged infrastructure.

Days after the ouster of Maduro, Trump gathered oil executives at the White House and called on them to rush back into Venezuela. Executives expressed interest in the opportunity but there was also a measure of caution given their past experience in the country.

Darren Woods, CEO of ExxonMobil, the largest U.S. oil company, said at that moment he saw the country as “un-investable.”

But Trump has insisted that his administration has brought a measure of stability to Venezuela.

He has argued that Venezuela stole U.S. oil when former Venezuelan President Hugo Chávez’s moved decades ago to nationalize hundreds of foreign-owned assets, including those owned by American oil companies.

Rodríguez, in one of her early moves after taking power, signed a law that opens the nation’s oil sector to privatization and reversed a bedrock tenet of the self-proclaimed socialist movement that had ruled the country for more than two decades.

Rubio said on X that the agreement would usher in $100 billion in private investment into Venezuela and lead to lower gas prices in the United States.

“This deal is a huge win for both the American and Venezuelan people,” Rubio posted.

Venezuela has one of the largest oil reserves in the world, with an estimated 303 billion barrels of crude oil in the ground. That’s about 17% of the world’s supply, according to the U.S. Energy Information Administration.

Madhani and Binkley write for the Associated Press. Regina Garcia Cano in Caracas contributed to this report.