Wednesday 7 October 2015

MIDEAST STOCKS-Oil price leap to boost Gulf markets | Reuters

MIDEAST STOCKS-Oil price leap to boost Gulf markets | Reuters:

"An overnight leap in oil prices is set to boost Gulf stock markets on Wednesday, while the start of the Saudi Arabian third-quarter earnings reporting season may spur interest in that market.

Brent crude jumped 5.4 percent on Tuesday, closing above $50 a barrel for the first time in a month, and rose further to $52.33 in Asian trade on Wednesday morning.

The U.S. Energy Information Administration predicted in a report that global oil demand would grow by the most in six years in 2016 while non-OPEC supply would stall. Overall, the report suggested a global supply glut might be easing."



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