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Most Gulf bourses end lower on Middle East conflict despite diplomatic hopes
Most Gulf stock markets closed lower on Monday as the escalating regional conflict outpaced cautious optimism over diplomatic progress at UN meetings this week. Energy markets remained on edge after fresh rhetorical threats exchanged between Washington and Tehran were compounded by weekend drone and missile attacks by Yemen’s Houthis targeting Riyadh and Saudi Aramco’s Yanbu energy hub. Traders took some heart from China’s intervention, urging Tehran to restrain Houthi attacks following a direct appeal from Riyadh. The move comes as diplomatic channels expand ahead of this week’s UN meetings t...
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