Bloomberg News

Industries Qatar Drops to 3-Week Low as Oil Tumbles a Third Day

October 04, 2011

Oct. 4 (Bloomberg) -- Industries Qatar QSC, the Middle East’s second-biggest petrochemicals company, dropped to the lowest intraday level in almost three weeks as oil declined for a third day.

The shares lost 1.9 percent to 119 riyals, the lowest since Sept. 14, at 12:17 p.m. in Doha. Saudi Basic Industries Corp., the world’s largest petrochemicals maker, decreased for a fifth day in Saudi Arabia, falling 1.1 percent to 88.25 riyals.

Crude for November delivery declined as much as 2.2 percent to $75.92 a barrel on the New York Mercantile Exchange.

--Editors: Shanthy Nambiar, Peter Branton

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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