Address

Precise Investors

Sunday, April 11, 2021
Stocks & Shares

Gulf looks set to fall after oil tumbles 4 per cent

Gulf stock markets look set to fall on Thursday after oil tumbled about 4 per cent overnight, with Brent crude closing the last session at $48.06 (£37.04) a barrel, its lowest level since early May.

Saudi Arabia’s bourse has been supported in recent days by expectations that MSCI will on June 20 launch a review of whether to upgrade Riyadh to emerging market status. But an oil price below $50 (£38.55) may negate much of that positive factor by weighing on petrochemical shares.

Qatar’s stock market may fall further after the Qatari riyal dropped to an 11-year low against the dollar in the spot market – a sign of capital outflows – and Standard & Poor’s downgraded Qatar’s debt because of the diplomatic rift in the Gulf.

Important:

The articles are for information purposes only and Precise Investors shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.

Precise Investors does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

Leave a Reply

18 − eleven =