MIDEAST STOCKS-Gulf stocks ease as oil slides on Iran deal | Reuters:
"* All bourses except Qatar in the red
* Oil price decline leads to profit-taking
* But markets may bounce back
* Dubai capped by chart resistance ahead of Expo announcement
* Egypt posts biggest decline since Oct. 28
By Olzhas Auyezov
DUBAI, Nov 25 (Reuters) - Most Gulf bourses fell on Monday as oil markets reacted to the breakthrough nuclear deal between Iran and world powers, which caused the price of Brent crude to slip 1.8 percent.
The deal is not intended to let more of Iran's oil into the market, the White House said, but an easing of the ban on European shipping insurance may help smooth crude exports to Iran's big Asian customers.
Gulf oil exporters, Saudi Arabia in particular, have profited from tightness in the oil market caused by the sanctions against Iran. So fears of a supply increase from Iran triggered profit-taking in regional stock markets, said Marwan Shurrab, fund manager and head of trading at Vision Investments."
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