MIDEAST STOCKS-Gulf loses steam as optimism over oil producer deal fades | Reuters:
"Most Gulf stock markets edged down on Sunday after oil prices pulled back on Friday, as optimism faded over a proposed deal among crude producers to cap output. A rise in shares of Commercial International Bank buoyed Egypt's bourse.
Officials in some oil producing nations are still talking up the deal. Russia's energy minister said on Saturday consultations should be concluded by March 1, so there could be further surges in oil and equities prices before that date.
However, Brent crude pulled back 3.7 percent on Friday to $33.01 a barrel, showing expectations among many traders that the deal - if it goes ahead - will do little or nothing to reduce massive oil supplies already in the market."
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