First published: 08-Jul-2026 17:10:17

Amna Assem

Oil markets are rising and stock exchanges are falling, driven by escalating events in the region resulting from Iran's attacks on Bahrain and Kuwait during the day, following America's attack on Iran after commercial ships were attacked in the Strait of Hormuz.

Interactions in numbers

Oil futures

By 9:30 a.m. UAE time, Brent crude futures were trading at $76.7 a barrel before rising during the day to trade above $77.6 a barrel by 4:15 p.m. UAE time, according to data from the London Stock Exchange Group.

Oil prices were affected by the aforementioned tensions plus the cancellation of the license for the temporary lifting of sanctions on Iranian oil.

gold

As for spot gold contracts, they traded at levels of $4,145 per ounce during the morning before falling slightly to $4,075 by the aforementioned time.

This fluctuation is expected to continue tomorrow if nothing changes, especially after US President Donald Trump announced the cancellation of the memorandum of understanding signed between America and Iran.

Stock exchanges

Opening prices

(According to market data)

Arab stock exchanges were not significantly affected at the start of trading.

By 10:30 AM Saudi time, the main Saudi stock exchange index had fallen by 0.26%, the Qatar stock exchange index by 0.40%, and the Kuwaiti Premier Market index by 0.37%.

At the same time, the Bahrain All Share Index fell by 0.15%, and the Abu Dhabi Securities Exchange declined by 0.60%.

Meanwhile, the Muscat Stock Exchange index also declined, albeit slightly, by 0.06 %, supported by the good performance of the "Omefco" fertilizer company's stock on its first day of trading on the stock exchange.

this   Meanwhile, the Dubai Financial Market index recorded the highest decline in the Gulf region, at 1.24%.

The main Egyptian stock exchange index, EGX 30, fell by 0.67% during the same period.

Closing prices

(According to market data)

The situation was not much different at the close, except for a larger drop in the main Egyptian stock market index due to the rise in the dollar price.

The Saudi Stock Exchange's main index closed slightly higher by 0.01% , while the Qatar Stock Exchange index fell by 0.77%, and the Kuwaiti Premier Market index declined by 0.79%.

Meanwhile, the Bahrain All Share Index closed down 0.6%, the Abu Dhabi Securities Exchange fell 0.56%, and the Dubai Financial Market Index dropped 1.51%, a higher percentage than at the start of trading.

The Muscat Stock Exchange index closed higher, supported by the start of trading in "OMIFCO" shares, ending the day with a gain of +0.91%.

Meanwhile, the EGX 30 closed down 1.84% after the pound plummeted against the dollar to trade near the 50 pound level again, recording 49.57 pounds for buying and 49.67 for selling in Egyptian banks, according to data from the London Stock Exchange Group.

To read the latest highs recorded for the pound recently, click here .

(Prepared by: Omnia Assem, Edited by: Fatima El-Kashef, Reviewed before publication by: Yasmine Saleh, Contact: zawya.arabic@lseg.com)

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