Global Markets

NEW YORK -- Global equity markets rose on Friday, Reuters reported.

The MSCI world equity index, which tracks shares in 50 countries, was up 0.63%. The pan-European STOXX 600 index gained 0.16%.

The Dow Jones Industrial Average rose 0.76% to 33,588.53, the S&P 500 gained 1.00% to 4,249.25 and the Nasdaq Composite added 1.32% to 12,948.90.

Oil prices dipped around 2% on expectations that supply disruptions in the U.S. Gulf of Mexico would be short-term, while recession fears clouded the demand outlook.

Brent crude futures were down 1.43% at $$98.16 a barrel while U.S. West Texas Intermediate (WTI) crude fell 2.02% to $92.42.

Source: Saudi Press Agency