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Higher oil prices push Saudi index up, while Egypt declines

2 Min Read (Reuters) - Gulf markets ended mostly higher on Tuesday, with Saudi Arabia’s benchmark index leading gains, while Egypt’s blue-chip index slid more than 1 percent. FILE PHOTO: Investors walk under a stock index board at the Dubai Financial Market in Dubai, United Arab Emirates, January 8, 2020. REUTERS/Christopher Pike The Saudi index closed 0.8% higher, its biggest daily percentage gain in over a week, buoyed by higher oil prices. The rise in crude prices was underpinned by the likely easing of COVID-19 lockdowns around the world, positive economic forecasts and lower output as U.S. supplies were slow to return after a deep freeze in Texas shut down production. [O/R]

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