Major Gulf markets ease on falling oil

Major stock markets in the Gulf were subdued in early trade on Tuesday, on falling oil prices as the world's biggest crude importer China's economic reforms underwhelmed investors, reports Reuters.
Oil prices - a catalyst for the Gulf's financial markets - fell for a second day as pledges by China to transform its economy amid stuttering growth since the COVID-19 pandemic failed to impress investors concerned about slower consumption.
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) on Sunday extended their voluntary oil output cuts of 2.2 million barrels per day (bpd) into the second quarter to support prices amid global growth concerns and rising output outside the group.