MIDEAST STOCKS-Gulf stocks may pull back after oil price tumble

April 9, 2015 5:40 AM

57 0

DUBAI, April 9 (Reuters) - Gulf stock markets may pull back on Thursday after a sharp fall in oil prices, although a couple of strong bank earning announcements may sustain confidence in that sector.

Brent crude plunged 6 percent on Wednesday because of a shock jump in U.S. crude inventories and news of record Saudi output. It rebounded about 1 percent to $56.17 a barrel in Asia on Thursday morning.

Also read: Saudi's Arab National Bank Q4 profit falls 4.9 pct, misses forecasts

Read more

To category page