MIDEAST STOCKS-Oil prices help Gulf rise, Saudi petchems strong:
"Middle East stock markets mostly rose on Tuesday after the shutdown of a North Sea pipeline pushed Brent oil above $65 a barrel for the first time since mid-2015. The Saudi stock index gained 0.3 percent, with petrochemical companies, whose profit margins tend to benefit from higher oil prices, outperforming. Saudi Kayan added 3.7 percent and PetroRabigh rose 3.0 percent. Utility Saudi Electricity climbed 3.5 percent. The state budget for 2018 will be announced next Tuesday and officials may detail plans to raise domestic energy prices, which could benefit the company’s earnings depending on the structure of the price hikes."
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