2022-08-14 15:30
Saudi stocks slip on weaker oil prices as Qatar consolidates gains
Saudi Arabia's stock market ended slightly lower on Sunday in response to Friday's fall in oil prices, while the Qatari index inched higher to notch up a third consecutive session of gains. Oil prices, a key catalyst for the Gulf's financial markets, had dropped around 2% on expectations that supply disruptions in the U.S. Gulf of Mexico would be short-term, while recession fears clouded the demand outlook. Saudi Arabia's benchmark index eased 0.1%, hit by a 1.2% fall in Riyad Bank and a 0.7% slip in Saudi British Bank.
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