Crude prices, a key catalyst for the Gulf's financial markets, gained 2.5% after a U.S.
official told Reuters that an immediate Saudi oil output boost was not expected and as investors question whether OPEC has the room to ramp up crude production.Separately, the kingdom said it would open its airspace to all carriers, paving the way for more overflights to and from Israel, in a decision welcomed by U.S. President Joe Biden.
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