Investors’ penchant for Islamic stocks notwithstanding, Qatar Stock Exchange witnessed profit booking and its key index retreated below the 10,500 mark, after gaining in the previous three consecutive sessions.
Brent North Sea crude on Friday rose above $51, reaching the highest level since just before Britain's vote to quit the EU that sent markets crashing.
Oil markets will begin to tighten in the second half of 2016 but the process will be slow and painful as global demand growth declines and non-Opec supplies rebound, the International Energy Agency said on Thursday.
The Qatar Stock Exchange on Thursday gained for the third straight session to add another 23 points but failed to break the 9,800 mark.
Oil markets are “rebalancing” but crude is “not at a fair price” yet, HE the Minister of Energy Dr Mohamed bin Saleh al-Sada has said and noted a minimum price of $65 a barrel is "badly needed at the moment".
There is only “limited market backlash” from the Doha meeting, said QNB, which sees adjustment of oil markets to lower prices gathering pace.
