UPDATE 2-MIDEAST STOCKS-Saudi Arabia edges down after credit outlook cut; Egypt resumes rally | Reuters:
"Saudi Arabia's stock market edged down in early trade on Tuesday after oil prices slipped and Standard and Poor's revised to negative its outlook on the kingdom's credit rating.
Brent crude dropped 1.2 percent to $57.63 per barrel by 0835 GMT as the International Energy Agency said the United States would remain the world's top source of oil supply growth until 2020, defying expectations of a more dramatic slowdown in shale output growth.
Also, China's consumer inflation, which came in at a five-year low for January, raised worries about oil demand in the world's second-largest economy, which is also a major consumer of petrochemicals produced in the Gulf."
'via Blog this'
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