GCC Stocks Extend Losses on Oil Tanker Attacks

published:17/06/2019 08:21 GMT

Stock markets in the GCC states extended losses on Sunday reflecting a cautious mood among investors following last week’s oil tanker attacks. The attacks on the tankers in the Gulf of Oman on Thursday raised fears of a military confrontation in a vital shipping route for global oil supply and heightened tensions between Iran and the US, which have been in a standoff over Iran’s nuclear program. The Saudi index had dropped 1.6% on Thursday and fell a further 0.6% on Sunday after slight gains...More