DUBAI: Most Gulf markets ended lower on Wednesday, with the Saudi benchmark falling the most in three months, as fears of widening war in the region intensified following joint US-Saudi strikes in Iraq and the interception of Iranian missiles targeting US forces.
Saudi Arabia, working with US Central Command, struck Iran-backed groups in Iraq blamed for drone attacks on its oil facilities, hours after US forces said they had thwarted a surprise Iranian attack on troops in the region.
Tehran’s rejection of Oman’s Strait of Hormuz proposal further dimmed hopes of easing the months-long trade disruption.
Saudi Arabia’s benchmark index declined 1.3 percent – its biggest intraday fall since early April – dragged by a 2.6 percent slide in Al Rajhi Bank and a 3.9 percent plunge in the country’s top lender by assets, Saudi National Bank.
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