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2014-11-30 13:35:00

OIL PRICES: MIDEAST PANIC

OIL PRICES: MIDEAST PANIC

Gulf stock markets plunged on Sunday after OPEC's decision to keep crude output unchanged sent oil prices tumbling at the end of last week.

Saudi Arabia's index dropped 5.3 percent to an eleven-month low minutes after opening. Shares in petrochemicals giant Saudi Basic Industries (SABIC) were down 7.1 percent.

Dubai's benchmark dropped 6.3 percent to a five-month low, with all traded stocks in decline.

Qatar's index was down 4.4 percent, slumping to its lowest level since early July.

Oman's…

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Tags: OIL, PRICES, BRENT, OPEC, SAUDI,
Chronicle:
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