Markets

MidEast Shares Gain on Crude Prices

MidEast shares rose, boosted by rising oil prices .

Brent crude touched the highest level since late March before paring some gains. Fears faded of Iranian crude hitting the market and increasing supply.

In company news, Ithmaar Bank gained on hopes for a return to profitability.

Saudi Arabia's main index added 2.1% to 8,802 points, Dubai gained 1.8% to 3,777 points, Abu Dhabi firmed 0.1% to 4,560 points, Qatar rose 0.9% to 11,834 points, Egypt rallied 2.5% to 8,716 points, Kuwait inched up 0.3% to 6,229 points, Oman was flat at 6,297 points and Bahrain slipped 0.2% to 1,438 points.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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