Wednesday 6 May 2015

MIDEAST STOCKS-Gulf markets rise as oil hits new 2015 high | Reuters

MIDEAST STOCKS-Gulf markets rise as oil hits new 2015 high | Reuters:



"Most Gulf stock markets rose on Wednesday as Brent oil climbed above $69 per barrel for the first time this year, while Egypt's bourse pulled back after a rally. 




Brent jumped more than 2 percent as a month-long rally gained further impetus from a fall in U.S. crude inventories and conflict in Yemen.



The main Saudi stock index edged up 0.3 percent and producers of petrochemicals, which are set to benefit from oil's recovery, were among the main supports. Advanced Petrochemical Co surged 4.7 percent and Yanbu National Petrochemical Co jumped 2.8 percent."



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