MIDEAST STOCKS-UAE, Qatar rise alongside oil prices, Drake & Scull bounces | ZAWYA MENA Edition:
United Arab Emirates (UAE) and Qatar stock markets closed higher on Wednesday as oil prices rose on uncertainty over the supply outlook. Falling U.S. crude inventories and looming U.S. sanctions against Iran are a risk to supply in an already tight market despite OPEC pledges to raise output. Property and financial shares led the Dubai index higher with developers Emaar Properties and DAMAC Properties rising 1.8 percent and 1.9 percent respectively. Dubai Islamic Bank gained 0.8 percent and Emirates NBD ended up 1 percent.
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