MIDEAST STOCKS-Most Gulf markets drop as oil prices fall - Reuters

MIDEAST STOCKS-Most Gulf markets drop as oil prices fall - Reuters:

Most of the major Gulf stock markets moved lower in early trade on Wednesday as oil prices fell, with Abu Dhabi underperforming amongst the peers.

Oil prices dipped as hopes for a trade deal between the United States and China dimmed, after U.S. President Donald Trump fell short of providing a date or venue for the signing ceremony, weighing on the outlook for the global economy and energy demand.

Brent crude futures and West Texas Intermediate crude were down 0.3% and 0.2%, respectively.

In Abu Dhabi, the index fell for a sixth straight session and was trading 0.4% lower. Market heavyweight First Abu Dhabi Bank slipped 0.5%, while Emirates Telecommunications Group was down 0.4%.