Tuesday 12 May 2015

MIDEAST STOCKS-Volatile oil, Yemen concerns leave Gulf markets mixed | Reuters

MIDEAST STOCKS-Volatile oil, Yemen concerns leave Gulf markets mixed | Reuters:



"Gulf stock markets were mixed on Tuesday as oil prices swung from loss to gain and it remained unclear whether an agreed truce in Yemen would take effect and stay in place.



Saudi-led air strikes pounded the Yemeni capital Sanaa on Tuesday, hours before a five-day truce was set to begin between the alliance of Gulf Arab nations and the Iran-allied Houthi militia that controls much of the country.



Brent crude, which fell in early trade, pared losses and rose towards $66 a barrel as the Yemen conflict and a weaker U.S. dollar lifted prices."



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