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Sunday, 18 December 2016

MIDEAST STOCKS-Firmer oil prices push up Gulf slightly | Reuters

MIDEAST STOCKS-Firmer oil prices push up Gulf slightly | Reuters:
"Stock markets in the Gulf made small gains on Sunday morning after crude oil prices climbed back towards 17-month highs at the end of last week.

Brent futures rose 2.2 percent to settle at $55.21 a barrel on Friday after Goldman Sachs boosted its price forecast for 2017 and producers showed signs of adhering to a global deal to reduce output.

Saudi Arabian petrochemical shares were bid up in the first hour of trade with all but one of the 14 listed producers advancing, pulling the main Saudi stock index 0.3 percent higher. Top producer Saudi Basic Industries added 0.5 percent.

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