Gulf markets slip as oil weakens and Fed uncertainty weighs on sentiment

Gulf markets slip as oil weakens and Fed uncertainty weighs on sentiment

MUSCAT : The dip followed cautious remarks from Federal Reserve Chair Jerome Powell, who indicated that another rate cut this year remains undecided despite two reductions in 2025. Oil prices fell by more than one percent today due to the decision by the Organization of the Petroleum Exporting Countries (OPEC) and its allies to temporarily halt production increases in the first quarter of next year, along with weak manufacturing data and a risin…