Firmer oil may support Gulf stock markets on Monday, but a slump in Asian equities and the approaching Eid al-Adha holiday may limit investors' appetite.
Oil prices edged up in Asian trade on Monday as US drilling slowed and analysts estimated that $1.5 trillion worth of planned American production investment was uneconomical at prices of $50 per barrel or lower.
But Asian shares tumbled after the US Federal Reserve's decision to keep interest rates at record lows raised fresh concerns about growth globally, particularly in China.
Investors will be focusing on flash manufacturing activity readings from China and the eurozone on Wednesday, but Gulf markets will be closed then for the Eid holiday.
Saudi Arabia's market will close from Tuesday for the rest of the week and other bourses in the region will be shut from Wednesday.
