MIDEAST STOCKS-Saudi petchems rise, markets mostly quiet | Reuters:
"Saudi Arabian petrochemical shares rose in early trade on Monday after oil prices surged overnight, but most stocks in the region moved little in modest trading volumes.
Brent crude futures climbed more than 1 percent to as high as $48.66 a barrel on Monday, their highest level this year, after long-time bear Goldman Sachs said the market had ended almost two years of oversupply and flipped to a deficit.
In Riyadh, Saudi Kayan gained 0.7 percent and Sahara Petrochemical was up 1.3 percent. The Saudi stock index rose 0.4 percent in the first half-hour."
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