18 Days
Source:
البلاد
Gulf markets gain on energy stability
Most Gulf markets rose today, Monday, driven by easing concerns over energy supplies and a decline in the likelihood of a US interest rate hike, despite ongoing tensions in the Middle East. The Gulf markets performed positively, with Dubai’s index up by 0.1% and Abu Dhabi’s index increasing by 0.4%. The non-oil private sector in the UAE continued to show strength, while stock markets in Qatar also experienced gains. Conversely, stocks in Saudi Arabia, Kuwait, and Bahrain declined. Although geopolitical tensions continue to cast a shadow over the markets, domestic fundamentals remain supportive. Data indicated that crude oil exports from the Middle East exceeded pre-war levels between the US and Iran for four days in late September, and the chances of a US interest rate hike fell from 64% to below 20%.
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