Most stock markets in the Gulf ended higher on Sunday in response to Friday’s rise in oil prices, although the Saudi index bucked the trend to close lower.
Oil prices gained almost 1% to a nine-month high on Friday on rising US diesel futures and worries about tight oil supplies after Saudi Arabia and Russia extended supply cuts earlier in the week.
In Qatar, the index gained 1.1%, with most stocks on the index in positive territory including petrochemical maker Industries Qatar which advanced 3.5%.
Gulf bourses end mixed; Saudi posts biggest weekly loss in a month Saudi Arabia’s benchmark index dropped 0.6%, with Al Rajhi Bank losing 0.9% and a 1.7% decrease in Alinma Bank.—APP
