UAE, GCC Stock Markets Plunge Amidst Fear of Oil Price War

UAE, GCC Stock Markets Plunge Amidst Fear of Oil Price War

WTI crude plummeted 31.5 percent or $13 a barrel to $28.27 while Brent fell 28.5 percent or $12.9 per barrel to $32.36 on Monday morning.. Dubai bourse plunged nine percent and Abu Dhabi Securities Exchange lost seven percent in the first few minutes of trading on Monday morning as crude crashed over 30 percent amidst fear of oil price war.. Boursa Kuwait also plummeted 9.5 percent while Oman's Muscat Securities Market lost 2.75 percent in the first few minutes of trading..