Stock markets across the Gulf ended Wednesday on a mixed note as investors weighed the potential economic and geopolitical fallout of a developing agreement between the United States and Iran, a deal that could reshape energy flows and regional trade routes.
Market sentiment remained cautious after fresh details surfaced regarding a preliminary understanding between Washington and Tehran. US President Donald Trump stated that the framework aims to ensure Iran does not obtain a nuclear weapon, while also creating room for broader negotiations.
According to officials familiar with the discussions, the agreement could allow Iran to resume oil exports once the deal is formally signed later this week. The arrangement would also extend the temporary ceasefire reached in April by another 60 days, giving both sides additional time to pursue a more durable settlement.
A key feature of the proposed framework involves easing restrictions on Iranian ports. In return, Tehran would restore normal tanker movement through the Strait of Hormuz, a vital global energy corridor that has faced severe disruptions since hostilities erupted earlier this year.
Against that backdrop, Saudi Arabia’s benchmark stock index slipped 0.1%, pressured largely by weakness in energy heavyweight Saudi Aramco, whose shares fell 0.9%.
Oil prices also softened, with Brent crude edging lower by 15 cents, or 0.2%, to trade around $78.81 per barrel during morning dealings.
Separately, Saudi Arabia received a boost on the aviation front after Riyadh Air secured approval from US authorities to operate passenger services between the kingdom and the United States, marking another step in the airline’s international expansion plans.
Elsewhere in the region, Dubai’s main index advanced 0.3%, supported by gains in property giant Emaar Properties, which climbed 0.8%.
Abu Dhabi’s market moved in the opposite direction, slipping 0.1%, while Qatar’s benchmark index added 0.3%. The rise in Doha was aided by strength in Qatar National Bank, the Gulf region’s largest lender, whose shares edged up 0.3%.
The varied performance across Gulf exchanges reflected a market still balancing optimism over easing regional tensions against uncertainty surrounding the long-term implications of the proposed US-Iran agreement.
