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Wednesday, 2 August 2017

MIDEAST STOCKS-Pullback in crude oil weighs on Gulf in early trade

MIDEAST STOCKS-Pullback in crude oil weighs on Gulf in early trade:

"A strong pullback in crude oil prices overnight and their continued decline early on Wednesday weighed on oil-linked sectors in the Gulf, while Dubai dropped on profit taking.

Brent crude futures were down almost 1 percent at $51.30 per barrel as of 0740 GMT, after they settled 1.7 percent lower on Tuesday.

The Riyadh index declined 0.4 percent as ten of the 14 listed petrochemical makers were down in the first 40 minutes of trade on Wednesday. Saudi Basic Industries was down 1.1 percent."



'via Blog this'