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Most Gulf markets remain stable as oil prices rise

The majority of the Gulf’s major stock markets advanced in early trade on Thursday as oil prices extended advances for a fourth session, while gains were constrained by worries about the global economy.

 

The benchmark index for Saudi Arabia increased by 0.1% thanks to a 0.3% increase in the oil behemoth Saudi Aramco.

 

With U.S. crude, heating oil, and jet fuel stocks getting tighter just as a cold snap hits the country and traffic is expected to spike for the holiday season, oil prices—a key driver for the Gulf’s financial markets—rose for a fourth straight day.

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