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Middle East crude prices in Asia fell to their lowest level in months, despite OPEC+ production cuts, traders said, as Asian refiners held back spot purchases and China and India binged on cheap Russian oil.
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President Bashar al-Assad's attendance at an Arab Summit in Saudi Arabia on Friday is the result of big policy shifts by Arab states that once backed his opponents in Syria's civil war.
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Stock markets in United Arab Emirates closed lower on Friday for a second consecutive session as investors remained cautious amid the volatile energy market.
Most stock markets in the Gulf fell in early trade on Thursday on lower oil price, although the Saudi index bucked the trend to trade higher.
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The Arab League's welcoming back of Syria's President Bashar al-Assad into its ranks highlights how far behind Qatar has fallen in its bid to be a diplomatic voice that carries weight in the Middle East.