Most Middle East stock markets tumbled on Monday in a global sell-off triggered by China, while growing tensions between Saudi Arabia and Iran added to the gloom.
Chinese stocks slumped by 7 per cent after weak manufacturing data,
Crude oil prices posted their second straight monthly losses, despite rising on Friday on worries that the intensifying Ukraine crisis may trigger more sanctions and as US economic data portended strong demand in the world's largest oil cons
Brent crude slipped below $108 a barrel on Monday and was on track for its first monthly drop in four months, as tensions over Iran eased and as a potential US government shutdown clouded the outlook for demand.
Republicans and De
Brent futures held around $108 a barrel on Friday, as uncertainties surrounding the global economic outlook weighed on prices, while a showdown between Israel and the Palestinians stoked worries about supply.
Oil investors are wor
A US navy ship that had been slated for decommissioning has been sent instead to the Gulf to help mine-clearing operations, the US Fifth Fleet based in Bahrain said, the latest move in a gradual US build-up as tensions with Iran smoulder.
Oman's central bank is likely to keep its policy stance accommodative to boost confidence in the non-oil sector, although inflation may rise due to government spending to rein in social tensions.
The Sultanate, hit by social unrest ea
China deflected pressure to censure North Korea at a regional summit on Sunday, instead urging its neighbours to calm tensions over the sinking of a warship and avoid any clash that could shake Asia.
Seoul and Tokyo blame North Korea, whos