MIDEAST STOCKS-Saudi bourse retreats after oil drops; others mixed - Agricultural Commodities - Reuters:
Saudi Arabian stocks retreated in early trade on Monday after oil prices fell, while bourses in the United Arab Emirates were mixed in thin volumes.
Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not come fast enough to fully offset the collapse in demand from the coronavirus pandemic.
Brent crude was down $1.18, or 5.5%, at $20.26 a barrel by 0738 GMT.
The Saudi index fell 0.4% with oil giant Saudi Aramco losing 0.7%, while Bank AlBilad was down 1.6% as the lender traded ex-dividend.
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