UPDATE 2-MIDEAST STOCKS-Saudi Arabia, Egypt extend gains | Reuters:
"Strong oil prices supported Saudi Arabia's bourse in early trade on Thursday, while Egypt's market extended its rebound on hopes for a compromise on taxation of capital gains and dividends.
The main Saudi index edged up 0.6 percent to 9,872 points and petrochemicals giant Saudi Basic Industries (SABIC), which is poised to benefit from oil's recovery, was the main support, climbing 2.0 percent.
Brent oil rose to a five-month high of $66.72 per barrel on Wednesday and traded above $66 on Thursday after the first crude stock drawdown in five months at the U.S. Cushing, Oklahoma hub suggested an oil glut might be starting to ease."
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