MIDEAST STOCKS-Gulf markets edge down as oil drops; Saudi banks strong | Reuters:
"Gulf stock markets ran out of steam on Monday after several strong sessions as oil prices fell by more than $1 a barrel, although positive fourth-quarter corporate earnings supported individual stocks.
Brent crude traded below $49 after analysts at Goldman Sachs cut their average forecast for the benchmark in 2015 to $50.40 a barrel from $83.75.
Saudi Arabia's stock index slipped 0.1 percent as shares in petrochemicals giant Saudi Basic Industries fell 1.9 percent; petrochemical industry earnings are under major pressure from weak oil prices."
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