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Gulf markets rise as investors assess Iran war, shipping risks
Most Gulf markets ended higher on Wednesday, as investors weighed hopes for a pause in the US-Israeli war on Iran against anxiety about shipping risks in the Strait of Hormuz. Investors were assessing signs of de-escalation against shipping risks, but recent strikes on tankersin the Strait and on regional energy infrastructure suggested risks of renewed escalation remained. Saudi Arabia’s benchmark index reversed early losses to close 1.4% higher, with oil major Saudi Aramco advancing 1.6%. “Most Gulf markets inched up as investors assessed ongoing security risks and watched for progress in re...
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