MIDEAST STOCKS-Saudi leads Gulf higher on rising oil prices - Agricultural Commodities - Reuters:
Major stock markets in the Gulf rose in early trade on Tuesday, with Saudi Arabia leading the gains amid rising oil prices on expectations that fuel demand would begin to pick up.
Brent crude rose 6.7% to $29.02 a barrel at 0723 GMT, up for a sixth straight day, as countries began easing coronavirus-led restrictions and crude supply cuts took effect.
Saudi’s benchmark index advanced 1.9%, with oil giant Saudi Aramco rising 1.8% and Al Rajhi Bank was up 1.3%.
Aramco said on Monday that its operations and supply chains were uninterrupted despite the outbreak of the new coronavirus.
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