MIDEAST STOCKS-Major Gulf indexes rebound from early losses as oil recovers - Reuters:
Major stock markets in the Gulf ended
higher on Wednesday, buoyed by recovery in Brent crude after
prices hit their lowest level since 1999 earlier in the session.
OPEC+ agreed new curbs this month, but global measures to
prevent the coronavirus pandemic from spreading have hit demand
and sent oil prices plunging.
Brent crude, which fell 24% in the previous session,
touched $15.98 a barrel on Wednesday, hitting its lowest since
June 1999. By 1120 GMT, it had recovered to trade 1.2% up at
$19.57.
Saudi Arabia's benchmark index rose 0.7%, with Al
Rajhi Bank gaining 1% and oil giant Saudi Aramco
closing 1% higher.
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