Gulf markets see major weekly losses
The Gulf stock markets experienced a collective decline at the end of the week, with performance deteriorating due to escalating attacks on oil tankers in the Strait of Hormuz. This has disrupted maritime traffic and heightened concerns over global oil supplies. Most indices declined, with the Qatari market suffering the largest drop since June 2020, decreasing by 2.2%. Meanwhile, the Saudi market and Dubai and Abu Dhabi markets declined by 1.6% and 1.7%, respectively. Conversely, Omani stocks closed with a modest gain of 0.1%, amid ongoing security tensions and markets affected by issues related to oil supplies and the future of financial markets in the region.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)