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Gulf markets fall on geopolitical worries
Most Gulf stock markets declined amid investor anticipation of the geopolitical developments between the United States and Iran, linked to disturbances in the Strait of Hormuz, despite an improved risk appetite and reduced concerns about oil supplies. The Saudi market posted the best performance, increasing by 1.1%, supported by gains in the shares of Al Rajhi Bank and Aramco. Meanwhile, other indices such as Qatar and Abu Dhabi remained stable or slightly lower. Expectations indicate that geopolitical tensions will continue to influence the markets, alongside waiting for the Federal Reserve's decisions regarding interest rate hikes, amid declining Iranian oil exports and ongoing regional tensions.
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