MIDEAST STOCKS-Saudi gains on oil price surge; others little changed - Reuters:
Saudi Arabia’s stock market rose for a fourth straight session on Sunday after oil prices surged at the end of last week, while other major Gulf bourses were little changed in early trade.
Brent crude futures jumped 13.9%, or $4.17 a barrel on Friday to settle at $34.11. Brent soared as much as 47% on Thursday for its highest intraday percentage gain on record, closing up 21%.
On Thursday, oil staged its largest one-day rally in history on prospects for a cut in supply equivalent to anywhere from 10% to 15% of world demand.
Saudi Arabia’s benchmark index advanced 1% in early trade, led by a 2.1% rise in oil giant Saudi Aramco and a 2.8% increase in petrochemical firm Saudi Basic Industries .
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