MIDEAST STOCKS-Saudi stocks barely move after oil shipping lane closed by attack | Reuters:
Saudi Arabia’s stock market barely moved early on Thursday after Riyadh reported an attack on two oil tankers by Yemen’s Iran-aligned Houthi movement, suggesting investors do not expect the incident to have much of an economic impact.
The main stock index fell 0.3 percent in the first hour of trade and shares in National Shipping Co of Saudi Arabia (Bahri) was 0.2 percent lower after it said one of its vessels suffered minor damage in the attack.
Oil prices rose only modestly after Saudi Arabia said it was suspending crude shipments through one Red Sea shipping lane because of the attack. Brent crude futures added 0.9 percent to $74.59 a barrel on Thursday morning after gaining 0.7 percent on Wednesday, when the attack reportedly occurred.
No comments:
Post a Comment