DUBAI: Most Gulf bourses ended lower on Thursday, caught between rebounding regional oil flows and mixed diplomatic signals on the US-Iran conflict.
Saudi Arabia’s benchmark index dropped 0.5 percent, weighed down by a 1.6 percent retreat in the country’s biggest lender by assets Saudi National Bank.
However, oil giant Saudi Aramco gained 0.2 percent.
Saudi Arabia has restarted its East-West Pipeline and resumed tanker loadings at the Red Sea port of Yanbu, trade data showed. The restart follows a shutdown caused by a drone strike last month and signals a resumption in exports from the Middle East.
Qatar’s index retreated 0.6 percent, pressured by a 2.6 percent decline in Qatar International Islamic Bank .
Iran said on Wednesday that it had received a US response to reviving a collapsed Gulf ceasefire, days after US President Donald Trump indicated he had rejected it.
Abu Dhabi’s index dipped 0.7 percent, while Dubai’s main share index closed 0.5 percent lower.
Outside the Gulf, Egypt’s blue-chip index gained 2.2 percent, ending a nine-session losing streak.
Comments