Posted 11/19/2023, 1:15:00 PM
Gulf Markets Rise on Oil Price Jump After U.S. Sanctions Russian Shippers
- Most Gulf markets gained on rising oil prices, with Saudi index rising for fourth session in a row
- Oil prices jumped over 4% on Friday, rebounding from 4-month low after U.S. sanctions on some Russian shippers
- Saudi Arabia's benchmark index up 0.5%, led by gains in Saudi Aramco and National Bank
- Qatar index rose 0.2%, helped by increase in shares of Qatar National Bank
- Egypt's index advanced 2.1%, buoyed by jump in Commercial International Bank after securing $150 million loan