Saudi King Fahd Hospitalized; Conflicting Reports on Alert

The government’s official news agency said only that Fahd, who is believed to be 82, was admitted to King Faisal Specialist Hospital in Riyadh for unspecified medical tests.

But reports of Fahd’s deteriorating health had been blamed for sending the Saudi stock market tumbling 5% earlier in the week. Friday’s news that he was taken to a hospital helped push crude oil futures to near $52 a barrel ahead of the U.S. Memorial Day holiday weekend, the start of the American summer driving season.

An Arab official, speaking on condition of anonymity because of the sensitivity of the situation, said the Saudi government had put the kingdom
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