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Oil bolsters Saudi index as other Gulf markets slip


2 Min Read
(Reuters) - Most Middle East stock markets ended lower on Sunday, with financials weighing on the Dubai index, while Saudi extended gains for a seventh consecutive session on rising oil prices.
FILE PHOTO: Investors share a laugh as they monitor stocks at the Dubai Financial Market, June 17, 2013. REUTERS/Jumana El Heloueh
Oil, a key catalyst for the Gulf’s financial markets, hit its highest levels in more than a year on Friday on hopes a U.S. stimulus will boost the economy and fuel demand.
Brent crude settled up $1.29, or 2.1%, at $62.43 a barrel by 1832 GMT after rising to a session high of $62.83, the highest since Jan. 22, 2020. ....

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