Thursday 12 July 2018

MIDEAST STOCKS-Most markets slightly down on oil price concerns | Reuters

MIDEAST STOCKS-Most markets slightly down on oil price concerns | Reuters:

Most stock markets in the region closed on a slightly negative note on Thursday amid concerns about oil price declines and absence of local catalysts that would push the markets higher.

 Brent crude prices had slumped $5.46 or 6.9 percent on Wednesday after U.S. President Donald Trump threatened new tariffs on China and Libya said it would resume oil exports. Prices recouped some losses on Thursday and traded around $74.30 by 1210 GMT.

The Saudi index lost 0.3 percent with 96 declining stocks out of 179 stocks traded.

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