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Mideast Stocks: Saudi Bourse Leads Most Gulf Stocks Lower as Oil Prices Fall
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Oil slump drags Gulf equities down, Saudi stocks underperform
Gulf markets took a hit on Sunday after a sharp slide in oil and a wave of profit-taking pushed traders back into defensive mode. The mood was already shaky because of new fears over a global supply glut and rising tension between the United States and Venezuela after Washington seized a tanker. The pressure grew after crude settled lower on Friday, closing the week with a 4% drop as oversupply worries and talk of a possible Russia-Ukraine peace…
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