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Markets fall as weak oil prices dent investor appetite

Posted by admin on March 14, 2022

March 14 (Reuters) – Middle Eastern stock markets fell on Monday, with Saudi’s main share index (TASI) trading lower for a fourth straight session, as weak oil prices dampened risk sentiment for the region.

Oil prices shed as much as $4 a barrel, extending losses from last week, as diplomatic efforts to end the war in Ukraine were stepped up and markets braced for U.S. rate hikes.

Brent crude futures were last down by $3.05 or 2.7% at $109.62 a barrel at 0351 GMT.

Most share markets firmed and oil prices slid on hopes for progress in Russian-Ukraine peace talks, while bond markets braced for a rate increase in the United States and UK this week.

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