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Thursday, 17 May 2018

MIDEAST STOCKS-Saudi rebounds on strong oil prices, rest of Gulf down | ZAWYA MENA Edition

MIDEAST STOCKS-Saudi rebounds on strong oil prices, rest of Gulf down | ZAWYA MENA Edition:

"Higher oil prices helped Saudi Arabia's stock market to offset some of this week's losses on Thursday, though other Gulf markets were down as geopolitical concerns continued to weigh on investors in the region.

Trading activity was also slow because of the Muslim fasting month of Ramadan, traders said.

The Saudi index gained 0.7 percent as Brent crude futures LCOc1 hit $80 a barrel for the first time since November 2014 on concerns Iranian exports could fall, reducing supply in an already tightening market. "



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