MIDEAST STOCKS-Major Gulf markets dip amid fresh escalation in US-Iran conflict

ALRAJHI

ALRAJHI

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- Major Gulf markets edged lower in early Thursday trade after fresh U.S. strikes on Iran, with President Donald Trump warning of further attacks unless a peace deal is secured.

The United States and Iran traded airstrikes for a second straight day. The latest escalation was triggered earlier this week by the downing of a U.S. Apache helicopter near the Strait of Hormuz, setting off reciprocal strikes across Iran and against U.S. bases in the region.

Tehran closed the Strait of Hormuz after the U.S. strikes.

Saudi Arabia's benchmark index .TASI fell 0.1%, with Al Rajhi Bank 1120.SE losing 0.4%.

Dubai's main share index .DFMGI declined 0.7%, with blue-chip developer Emaar Properties EMAR.DU losing 1.5%.

In Abu Dhabi, the index .FTFADGI eased 0.3%.

The Qatari index .QSI was down 0.2%.

Meanwhile, Brent futures LCOc1 were up 8 cents, or 0.09%, to $93.18 a barrel by 0702 GMT. O/R