MIDEAST STOCKS-Strong oil lifts Gulf; Dubai property stocks surge

April 16, 2015 2:38 PM

52 0

DUBAI, April 16 (Reuters) - Oil's rally supported stock markets across the Gulf on Thursday, while Dubai property stocks surged after the emirate's biggest listed real estate developer announced a bullish 2015 profit forecast.

Brent crude hit 2015 highs above $63 per barrel after a rally of more than 5 percent in the previous session, and analysts said more price rises were likely despite market oversupply. The price pulled back slightly later in the day but stayed above $62.

Also read: GE in talks to buy oilfield services provider Baker Hughes: WSJ

Read more

To category page