MIDEAST STOCKS-Markets fall after oil hits four-month low | Reuters:
"Middle East stock markets fell on Sunday after oil prices dropped to their lowest levels since March, and even better-than-expected earnings from the region's biggest listed firm, Saudi Basic Industries, could not offset the overall gloom.
Brent and U.S. crude futures on Friday posted their fourth straight weekly decline as weak economic data from China and a rise in U.S. oil drilling rigs pressured them.
Gulf investors had ignored smaller oil price movements in the last few weeks, but with Brent below $55 per barrel and U.S. oil under $50, crude once again grabbed their attention."
'via Blog this'
No comments:
Post a Comment