MIDEAST STOCKS-Oil pressures Gulf stocks, Ahli United Bank soars on possible merger | Reuters:
Gulf stocks opened in negative territory on Tuesday on the back of sliding oil prices and mirroring a slump in Asian stocks.
Brent futures reached a three-month low, trading at $71.67 per barrel by 0915 GMT, as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers.
The Saudi index shed 0.2 percent in the first hour of trading, with petrochemical companies such as Saudi Kayan Petrochemical Co down 1.2 percent and heavyweight Saudi Basic Industries Corporation (SABIC) dropping 1.1 percent.
No comments:
Post a Comment