UPDATE 2-MIDEAST STOCKS-Gulf markets mixed, Saudi petchems rise as oil edges up | Reuters:
"Gulf stock markets were mixed in early trade on Monday after gaining strongly in the two previous sessions on the back of Saudi Arabia's 2015 budget, which maintained government spending at a high level.
Brent crude edged up early on Monday because of supply disruptions in Libya and traded just above $60.00 per barrel.
Although confidence in heavy state spending has made Gulf equities less exposed to moves in oil over the past week, the oil price remains important for the petrochemicals sector, whose products are often priced in relation to crude."
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