Crude oil prices further by a dollar as glut anxieties stalked the market. As Brent settles below $ 58 a barrel, the Saudi budget estimating price at $ 60 looked distant. The fall in prices could impact GCC stock markets as money circulation would slow down even as oil revenues drop off.
Dubai property market may also see pressures as investors sell off in anticipation of a falling market. Asset market falls are contagious. Dubai may have been a destination for Asian and African and possibly Russian flight of capital. With Russia in agony, and oil markets writing in pain, investors would be hesitant to move in. Dubai , after all is dependent on the munificence of Abu Dhabi and given that oil is heading south, Abu Dhabi may be reluctant to release Dirhams...
The views of the author are his personal views. Author recommends no investment and is not responsible for any suggestions made here which are purely academic. thoughts.
Dubai property market may also see pressures as investors sell off in anticipation of a falling market. Asset market falls are contagious. Dubai may have been a destination for Asian and African and possibly Russian flight of capital. With Russia in agony, and oil markets writing in pain, investors would be hesitant to move in. Dubai , after all is dependent on the munificence of Abu Dhabi and given that oil is heading south, Abu Dhabi may be reluctant to release Dirhams...
The views of the author are his personal views. Author recommends no investment and is not responsible for any suggestions made here which are purely academic. thoughts.
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