🔻Most stock markets in the Persian Gulf closed lower

🔻Most stock markets in the Persian Gulf closed lower

Most stock markets in the Gulf countries closed lower on Thursday, as mid-level investors fluctuated between the resumption of the flow of oil in the region and differing signals about the dispute between Iran and the United States.

Saudi Arabia’s main stock index fell by 0.5%. A 1.6% decline in National Bank shares, the country’s largest bank by assets, was among the factors weighing on the market. By contrast, Saudi Aramco shares rose by 0.2%.

Saudi Arabia has restarted the East-West pipeline and resumed oil tanker loading at the port of Yanbu in the Red Sea. Trade data shows that the pipeline had been halted after last month’s drone attack, and its restart is a sign of increasing Middle Eastern oil exports.

Saudi Arabia’s Ministry of Finance also said in its pre-budget statement that for 2027 it expects a budget deficit of 191 billion riyals, about $51 billion, which is equivalent to 3.6% of the country’s gross domestic product.

Qatar’s stock index fell by 0.6%, and a 2.6% drop in shares of Qatar International Islamic Bank weighed on it.

Iran said on Wednesday that it had received the United States’ response regarding the collapse of efforts to restore a ceasefire in the Persian Gulf—just a few days after U.S. President Donald Trump said that he rejected Iran’s proposal.

Mahmoud Mashal, senior market analyst at VTM Markets in Dubai, said investors are still closely tracking developments in the region. According to him, although talks between Iran and the United States continue through intermediaries, uncertainty about the timing of negotiations and the continuation of disruptions in the Strait of Hormuz have limited investors’ willingness to take risks.

Abu Dhabi’s stock index fell by 0.7% and Dubai’s main index declined by 0.5%.

Outside the Persian Gulf region, Egypt’s large-company stock index rose by 2.2%, ending its nine-day downward trend.

Bahrain’s stock exchange fell by 0.2% and Kuwait’s by 0.6%. By contrast, Oman’s stock index rose by 0.4%.