Middle East Economic Survey

VOL. LII

No 2

12-Jan-2009

OIL PRICES

Falling Oil Price Weighs On Gulf Stocks

A sharp fall in the oil price towards the end of last weeks trading session weighed on Gulf stocks, forcing some indices, such as Abu Dhabi, Dubai, Qatar and Oman, to give up a portion of their earlier gains, while those already on a downward trajectory Kuwait and Bahrain were nudged into a steeper descent. Saudi Arabia escaped the rout because its stock market had closed before WTI plummeted...