DUBAI: Most Gulf stock markets closed lower on Thursday, as escalating hostilities between the United States and Iran fuelled concerns about potential disruptions across vital regional energy corridors.
The decline followed the fiercest maritime confrontation of the six-month conflict. Iran struck 10 vessels near the Strait of Hormuz after the US sank five Iranian tankers.
The attacks prompted US President Donald Trump to caution Tehran with threats of strikes against Iran’s Pickaxe Mountain.
Saudi Arabia’s benchmark index eased 0.1 percent, weighed down by a 1.1 percent slide in Saudi Arabian Mining Company. Oil major Saudi Aramco, on the other hand, added 0.4 percent.
Brent crude futures were up USD3.58, or 3.51 percent, at USD104.79 a barrel by 1236 GMT.