Most Gulf stock markets and European stock exchanges fell on Wednesday because investors assessed the intensification of the Middle East war after the 11th consecutive night of U.S. strikes on targets of the Islamic Republic.

In the Gulf, the Dubai index fell 0.3%, and the Abu Dhabi and Qatar indices each dropped by about 0.2%; however, Saudi Arabia’s stock exchange rose, with banking shares up 0.2%. In Europe as well, the “STOXX 600” index fell by 0.3%. In both markets, concern about energy supply was the main focus.

The price of Brent oil rose to about $94.25 per barrel in the early hours of Wednesday. After the threat, in another development, from the Houthi militants allied with the Islamic Republic forced three Saudi oil tankers to change course in the Red Sea.