Most Gulf stocks were unchanged early on Thursday, as oil prices slid and broader Asian stocks fell after enthusiasm from easing trade tensions began to fade and investors waited for further cues.
Oil prices slid on expectations of a potential U.S.-Iran nuclear deal, with Brent crude futures and U.S. crude falling more than 2% each.
Global stocks earlier in the week had rejoiced after U.S-China trade war truce but the rally lost steam as investors paused to take stock and weigh its implications on the economy.
Dubai’s main share index was the only market in the region that chose a definite direction, rising up 0.3%.
Most Gulf bourses settle flat, oil prices fall
Saudi Arabia’s benchmark stock index was flat by 0706 GMT.
Meanwhile, Saudi Aramco said on Wednesday it had signed 34 preliminary deals with major U.S. companies, potentially worth up to $90 billion.
Shares of Aramco were down 0.4% in early trade on Thursday.
U.S. President Donald Trump signed a host of economic and bilateral cooperation agreements with Saudi Arabia earlier this week to kick off a four-day Middle East trip with a focus on dealmaking with a key Mideast ally.
In Abu Dhabi, the benchmark index was down 0.02%, while Qatar’s benchmark stock index was down 0.06%.
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