2023-07-02 08:46:00
The rise of oil supported the performance of the region’s markets
Dubai – Al Arabiya.net
Posted on: July 02, 2023: 12:46 PM GST Last updated: July 02, 2023: 01:38 PM GST
The Gulf stock markets recorded a positive performance in the first half of 2023, supported by the improvement in oil prices.
The Saudi stock market index increased by 9.36% in the first half of this year, while the Dubai market index rose by 13.67%.
The Abu Dhabi index recorded an increase of 7.93%, and the first market index on the Kuwaiti Stock Exchange increased by 3.6% in the first half of the year.
The Muscat index rose 1.84% during the period, while the Qatar and Bahrain indices rose by 5.68% and 3.3%, respectively.
As for US stocks, the Dow Jones Industrial Average increased by 3.8% in the first half, while the S&P increased by 15.91%, and the Nasdaq rose by 31.73%.
Brent crude prices increased by 12.2% in the first half of the year, while US Nymex crude increased by 11.99%.
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