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Rumours on Saudi king denied

Dubai, February 10, 2011

Saudi Arabia's King Abdullah bin Abdul-Aziz is well, an adviser to a senior member of the ruling family told Reuters on Thursday denying rumours about his health that had triggered buying across financial markets.
   

"The rumours aren't true," said the Saudi-based source.
    

Abdullah, around 87, has been resting in Morocco since January following a two-month stay in the United States where he underwent surgery twice after a blood clot complicated a slipped disc, state media have said.   

There has been no official statement in response to the rumours by the Saudi government, which does not typically respond to speculation.

Two Gulf-based diplomats said they were unaware of any change to the king's health.   

North Sea Brent crude oil futures for March jumped to a high of $102.88 per barrel their highest for a week, up $1.06 on the rumours before slipping back to around $102.20 by 1200 GMT.

The cost of insuring exposure to Saudi Arabian sovereign obligations for five years also rose 19 basis points from the previous day's close. - Reuters




Tags: Dubai | Oil Prices | Saudi King Abdullah | Rumour |

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