MIDEAST STOCKS-Gulf drops, following oil; Egyptians book profits | Reuters:
"Gulf stock markets, including the previously resilient Saudi Arabia, extended losses alongside oil on Monday, while Egypt dropped on profit-taking after a strong run and ahead of a fresh public offer of shares.
Brent crude fell to around $54 a barrel, its lowest for more than a month, on rising global inventories and signs of a possible nuclear deal with Tehran that could allow more Iranian oil exports.
Saudi Arabia's stock index posted its biggest single-day loss in two months, dropping 2.0 percent on heavy volume to a two-week low of 9,438 points. The petrochemical sector fell 2.6 percent."
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