As the Iran war erupted, Gulf stock markets looked certain to tumble once trading resumed. But Saudi equities have defied those expectations to rise despite the conflict, helped by support from local investors.
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As the Iran war erupted, Gulf stock markets looked certain to tumble once trading resumed. But Saudi equities have defied those expectations to rise despite the conflict, helped by support from local investors.
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Volatility gripped Wall Street, with stocks erasing gains as the war in Iran showed no signs of easing. Brent topped $100. Bond traders revived bets on policy easing after sluggish economic data.
Saudi Arabia’s race to bypass the Strait of Hormuz has led to a buildup of oil supertankers waiting off the kingdom’s Red Sea coast to collect cargoes, as Riyadh tries to overcome unprecedented disruption caused by the…
US stocks gave up earlier gains on Friday as the US said it had stepped up strikes on Iran to unprecedented levels. Oil traded above $100 once again.
US retail investors are taking a step back from their typically strong support for stocks, as the escalation in the Middle East and inflation concerns weigh on the group’s risk appetite.
Drones, cruise missiles and fighter jets have become a common sight for many sailors stranded on ships in the Gulf.
The dollar touched its highest level in two months on Friday, as elevated oil prices sparked worries over inflation and the war in Iran showed no signs of winding down.