Tuesday 18 August 2015

MIDEAST STOCKS-Saudi, Egypt fall as U.S. oil hits fresh 6-1/2-year low | News by Country | Reuters

MIDEAST STOCKS-Saudi, Egypt fall as U.S. oil hits fresh 6-1/2-year low | News by Country | Reuters:



"Bourses in Saudi Arabia and Egypt fell in early trade on Tuesday after oil prices extended losses, dampening the mood across the Middle East.



U.S. oil futures fell to their lowest in more than six years as traders braced for lower refinery consumption after the U.S. summer, while Asia's weakening economies and high global production stoked concerns about oversupply.



Saudi Arabia's stock index fell 1.7 percent, with all but a handful of stocks in the red. The petrochemical sector index, the most sensitive to oil prices, lost 1.9 percent."



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