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Gulf stocks rebound, oil climbs on dovish Fed statement

2015-03-20 03:14:55| Chemicals - Topix.net

DUBAI: Gulf stock markets rebounded Thursday after a dovish statement from the U.S. Federal Reserve lifted oil prices and sparked a rally in global equities, but food maker Savola Group weighed on Saudi Arabia after a profit warning. Oil prices jumped Wednesday after the Federal Reserve indicated it would raise U.S. interest rates more slowly than previously thought, overshadowing data showing U.S. crude inventories at a record level.

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