Gulf Stock Markets Experience Slight Decline Amid U.S.-Iran Tensions

Most Gulf region stock markets saw a slight decline on Sunday, according to Jin10. Saudi Arabia's benchmark index fell by 0.8%, with Al Rajhi Bank dropping 0.9% and Saudi National Bank, the country's largest lender, decreasing by 1.9%. Qatar's index decreased by 0.5%, with Qatar National Bank, the region's largest lender by assets, falling 1.3%. Bahrain's benchmark index dropped 0.3%, while Oman's benchmark index fell 0.4%. The ongoing U.S.-Iran conflict has entered its third week, with U.S. President Donald Trump threatening further action against Iran's Kharg Island oil export hub. Iran has vowed to intensify its response. Additionally, three sources familiar with the situation reported that the Trump administration rejected diplomatic efforts by Middle Eastern allies aimed at ending the conflict between the U.S., Israel, and Iran. Trump has also called on allies to deploy warships to help secure the Strait of Hormuz, a critical passage for global energy supplies.