UPDATE 3-MIDEAST STOCKS-Gulf markets drop as U.S. oil hits 6-year low | Reuters

UPDATE 3-MIDEAST STOCKS-Gulf markets drop as U.S. oil hits 6-year low | Reuters:



"Stock markets across the Gulf fell sharply on Wednesday after U.S. crude futures dropped to a fresh six-year low and Brent oil also edged down.



U.S. oil futures dropped about 3 percent and traded just above $42 per barrel on Wednesday after crude inventories rose by 10.5 million barrels to 450 million in the week to March 13, according to data from the American Petroleum Institute. 




Official inventory data will be issued later on Wednesday by the U.S. Energy Information Administration (EIA). Brent crude edged down towards $53 per barrel."



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