MIDEAST STOCKS-Weak oil weighs on major Gulf bourses, Qatar leads losses | Reuters

MIDEAST STOCKS-Weak oil weighs on major Gulf bourses, Qatar leads losses | Reuters:

All major Gulf stock markets slipped on Monday amid falling oil prices, with Qatar dropping sharply as its blue-chip banks slid.

Oil prices fell as drilling activity in the United States picked up and a refinery fire in the U.S. state of Illinois resulted in the shutdown of a large crude distillation unit.

Saudi Arabia’s stock market edged down 0.1 percent with Al Rajhi Bank declining 0.4 percent and Saudi British Bank shedding 0.4 percent.