Gulf markets mixed, Saudi Arabia down on fiscal worries

BANGALORE, Feb 24 (Reuters): Gulf stock markets were mixed on Tuesday, with Saudi Arabia losing ground on fiscal concerns, while Dubai built on the prior session's gains.

Saudi Arabia's benchmark stock index fell 0.6 per cent after a slight recovery in the prior session, as the kingdom's budget deficit widened quarter-on-quarter due to higher expenditures.

The Reuters Gulf Currents newsletter brings you the latest on geopolitics, energy and finance in the region. Sign up here. Losses were broad-based, with Saudi Telecom Company down 1.7 per cent and Saudi Aramco shedding 0.6 per cent.

Reuters reported citing trade sources that energy giant Aramco has sold several shipments of ultra-light crude oil from its $100 billion Jafurah gas plant to US majors and an Indian refiner.