Major Gulf stock markets decline amid renewed escalation between the US and Iran

ALRAJHI
Tadawul All Shares Index

ALRAJHI

1120.SA

0.00

Tadawul All Shares Index

TASI.SA

0.00

- Major Gulf stock markets edged lower in early trading on Thursday after the United States launched fresh attacks on Iran, and U.S. President Donald Trump vowed further attacks unless a deal is reached.

Washington and Tehran exchanged airstrikes for the second day in a row. This latest escalation erupted earlier this week after a US Apache helicopter was shot down near the Strait of Hormuz, leading to retaliatory strikes across Iran and against US bases in the region.

Iran announced the closure of the strait after the US attacks.

The Saudi index fell 0.1 percent, affected by a 0.4 percent drop in Al Rajhi Bank shares.

The index in Dubai fell 0.7 percent, amid a 1.5 percent decline in shares of Emaar Properties.

In Abu Dhabi, the index fell 0.3 percent. The Qatari index declined 0.2 percent.

By 0702 GMT, Brent crude futures had risen eight cents, or 0.09 percent, to $93.18 a barrel.