Gulf Markets Gain on Oil Rise
Most of the Gulf stock markets rose as oil prices increased following U.S. President Donald Trump's threat to impose sanctions on Iran's trading partners, which heightened expectations of reduced oil supplies. The price of Brent crude oil rose to approximately $94.39 per barrel. Data showed Saudi Arabia's oil exports increased to 3.993 million barrels per day in June, after reaching a record low in May. Additionally, Saudi Aramco resumed loading oil from the Strait of Hormuz, with extra tankers waiting to load, amidst escalating tensions between Washington and Tehran.
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