Major Gulf markets dip amid fresh escalation in US-Iran conflict
- The United States and Iran traded airstrikes for a second straight day
Major Gulf markets edged lower in early Thursday trade after fresh US strikes on Iran, with President Donald Trump warning of further attacks unless a peace deal is secured.
The United States and Iran traded airstrikes for a second straight day.
The latest escalation was triggered earlier this week by the downing of a US Apache helicopter near the Strait of Hormuz, setting off reciprocal strikes across Iran and against US bases in the region.
Tehran closed the Strait of Hormuz after the US strikes.
Saudi Arabia’s benchmark index fell 0.1%, with Al Rajhi Bank losing 0.4%.
Dubai’s main share index declined 0.7%, with blue-chip developer Emaar Properties losing 1.5%.
In Abu Dhabi, the index eased 0.3%.
The Qatari index was down 0.2%.
Meanwhile, Brent futures were up 8 cents, or 0.09%, to $93.18 a barrel by 0702 GMT.
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