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Gulf markets fall after Houthis' attacks
Stock markets in the Gulf countries experienced declines following the Houthi attacks on Saudi oil facilities at two ports overlooking the Red Sea. These attacks resulted in an escalation of the regional conflict. Market indices shrank by around 0.1% in Bahrain and 0.3% in Qatar and Saudi Arabia, with notable declines in major companies such as Saudi Aramco and the Saudi French Bank. Additionally, it was reported that a oil tanker exploded in the Strait of Hormuz after colliding with a sea mine, amid increasing tensions due to escalating military clashes between Saudi Arabia and the Houthis, who are supported by Iran. There is growing concern about the potential expansion of the war in the region.
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