Saudi stocks lead Gulf bourses down after oil slump
- Date: 21-Apr-2020
- Source: Jordan Times
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi stocks lead Gulf bourses down after oil slump
A man watching the exchange board at the Stock Exchange Market (Tadawul) bourse in the Saudi capital Riyadh, on December 12, 2019 (AFP photo). DUBAI - The Saudi stock market led Gulf bourses down on Tuesday, a day after US oil prices slumped to historic lows over sluggish demand, a supply glut and a lack of storage.. The Dubai Financial Market dropped by 2.3 per cent, while its sister bourse in Abu Dhabi was down 2.1 per cent.. US crude prices made a partial recovery on Tuesday after trading at historic lows, diving below zero the previous day for the first time due to paralysed demand and a glut that overwhelmed storage facilities.. Brent crude, the international benchmark, dropped 10 per cent to $22.90 a barrel..