Most Important News

1. Oil Plunges as Trump Delays Strikes on Iran’s Energy Sites;
2. Saudi Arabia Adds 5 Shipping Services to Ease Hormuz Disruptions;
3. Arabian Pipes Wins SAR 147 Million and SAR 94 Million Saudi Aramco Contracts;

As of Monday’s close, the S&P 500 index(SPX.US) increased by 1.15%, the NASDAQ(IXIC.US) rose by 1.38%, and the Dow Jones Industrial Average(DJI.US) increased by 1.38%.

Oil Plunges as Trump Delays Strikes on Iran’s Energy Sites

Oil prices fell over 13% Monday after President Trump ordered a five-day pause on military strikes against Iran’s energy infrastructure, hoping for progress in talks. Brent crude dropped to around $100 a barrel. The decision followed Iran’s threats to target regional power facilities if attacked. The ongoing Gulf crisis has sharply cut oil output and nearly halted traffic through the Strait of Hormuz, which handles a fifth of global oil trade.

Saudi Arabia Adds 5 Shipping Services to Ease Hormuz Disruptions

Saudi Arabia’s ports authority has launched five new shipping routes with major global carriers, including Maersk and Hapag-Lloyd, to counter trade disruptions caused by the Strait of Hormuz crisis. The new services boost logistics connections across the Gulf and Red Sea, enhance supply chain resilience, and support Saudi Arabia’s ambition to become a global logistics hub.

Iranian Foreign Ministry: No Talks with U.S.; Hormuz Strait Stance Unchanged

On March 23, Iran’s Foreign Ministry said it received messages via friendly countries about U.S. requests for talks to end the conflict, and responded based on its principles. Iran confirmed it has held no negotiations with the U.S. in the past 24 days, and its position on the Strait of Hormuz and the terms for ending the conflict remain unchanged.

KSA Stocks

Arabian Pipes Wins SAR 147 Million and SAR 94 Million Saudi Aramco Contracts

Arabian Pipes Co.(2200.SA) announced new contracts with Saudi Arabian Oil Co.(2222.SA) worth approximately SAR 147 million (signed March 18, 2026, for 11 months; impact expected Q4 2026–Q1 2027) and SAR 94 million (signed March 16, 2026, for 9 months; impact expected Q3–Q4 2026). Both agreements cover manufacturing and supplying steel pipes from the company’s factories to Saudi Aramco.

Saudi Manpower Reports SAR 150.64M Net Profit for 2025, Up 19% YoY

Saudi Manpower Solutions Co.(1834.SA) posted a net profit of SAR 150.64 million for 2025, a 19% increase year-on-year. Annual revenue grew 11% to SAR 2.09 billion, supported by strong demand in the Corporate and Individuals segments. Gross profit surged 41%, though higher administrative, marketing, and credit loss expenses partially offset overall profit growth.

USA Stocks

Apple to Hold WWDC 2026 on June 8-12, Teases “Major AI Advancements”

Apple Inc.(AAPL.US) announced it will host WWDC 2026 from June 8 to 12, with the keynote on June 8 at its Cupertino headquarters. The event will highlight major AI advancements and unveil updates across iOS, macOS, tvOS, and watchOS, along with new software and developer tools. According to Bloomberg, the main focus for investors is the debut of iOS 27, marking Apple’s major push into AI.

Analyst: Tesla’s Chip Project May Push Capex Far Above Expectations

As Tesla Motors, Inc.(TSLA.US) advances its new Terafab chip initiative, the company could face much higher-than-expected capital expenditures. Barclays warns costs might soar rapidly, suggesting even their bullish estimate of over $50 billion may be far too low.