PHOTO
Oil prices surged on Monday, boosted by comments from Saudi Arabia's energy minister that oil producers will cooperate beyond 2018. A drop in U.S. drilling activity supported prices as well.
Brent crude futures and U.S. West Texas Intermediate (WTI) crude futures were at $68.89 a barrel and $63.61 a barrel respectively at 0315 GMT.
In stocks, global markets were mostly lower on Monday.
MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 percent.
In the Middle East, most stock markets fell on Sunday.
The Saudi index fell 0.3 percent with Almarai dropping 1.2 percent and Savola sliding 2.2 percent.
Dubai's index fell 0.5 percent as most property developers weakened, with DAMAC down 1.7 percent.
Abu Dhabi's index gained 0.2 percent as ADNOC Distribution added 3 percent.
Egypt's index fell 0.5 percent.
In currency markets, the dollar’s index against a basket of six other major currencies edged up on Monday 0.07 percent.
Gold prices edged up 0.2 percent early on Monday to $1,334.5 per ounce.
In other news, average yields on Egypt's three- and nine-month treasury bills dipped slightly at an auction on Sunday, central bank data showed.
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here
Our Standards: The Thomson Reuters Trust Principles
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2018
Brent crude futures and U.S. West Texas Intermediate (WTI) crude futures were at $68.89 a barrel and $63.61 a barrel respectively at 0315 GMT.
In stocks, global markets were mostly lower on Monday.
MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 percent.
In the Middle East, most stock markets fell on Sunday.
The Saudi index fell 0.3 percent with Almarai dropping 1.2 percent and Savola sliding 2.2 percent.
Dubai's index fell 0.5 percent as most property developers weakened, with DAMAC down 1.7 percent.
Abu Dhabi's index gained 0.2 percent as ADNOC Distribution added 3 percent.
Egypt's index fell 0.5 percent.
In currency markets, the dollar’s index against a basket of six other major currencies edged up on Monday 0.07 percent.
Gold prices edged up 0.2 percent early on Monday to $1,334.5 per ounce.
In other news, average yields on Egypt's three- and nine-month treasury bills dipped slightly at an auction on Sunday, central bank data showed.
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here
Our Standards: The Thomson Reuters Trust Principles
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2018
