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Mideast Stocks Decline After Oil Sinks to Seven-Year Low

  • Dubai stocks end best winning streak in almost three months
  • Saudi Arabia says it increased crude exports in October
Updated on

Almost every Middle Eastern stock index declined after oil, the region’s main source of income, sank to the lowest in seven years, damping the outlook for government spending.

Dubai’s DFM General Index ended its longest winning streak in almost three months, sliding 1.5 percent, the most in a week, to close at 3,026.05. Emirates NBD PJSC’s 4 percent retreat was the biggest contributor. The Tadawul All Share Index in Saudi Arabia lost 1.6 percent, also the most in seven days. The kingdom boosted its crude exports in October.