Major stock markets across the Gulf traded higher on Wednesday, with investors favouring financial and energy shares despite lingering uncertainty surrounding the latest diplomatic efforts between the United States and Iran.
Markets remained watchful as high-level discussions involving Washington and Tehran continued through Qatari mediation rather than direct engagement. Senior U.S. representatives arrived in Doha for the talks, while Qatari officials reiterated the country’s commitment to facilitating dialogue under the existing framework between the two sides.
Saudi Arabia’s benchmark index climbed 0.5%, led by gains in heavyweight banking stocks. Saudi National Bank advanced 1.3%, providing strong support to the market, while energy giant Saudi Aramco added 0.4%.
Investor sentiment also drew confidence from improving conditions in global energy logistics. Oil shipments through the Strait of Hormuz have largely returned to levels seen before the recent regional conflict, easing concerns over potential supply disruptions.
Dubai’s main share index gained 0.4%, helped by a 1% rise in property heavyweight Emaar Properties as buying interest returned to blue-chip stocks.
In Abu Dhabi, the benchmark index edged up 0.1%. The market continued to digest fresh data indicating that the United Arab Emirates exported a record volume of crude oil and condensate in June, following its decision earlier this year to withdraw from OPEC after nearly six decades of membership. The move was aimed at allowing greater production flexibility outside the group’s quota framework.
Qatar’s stock index also finished in positive territory, inching up 0.1% in volatile trading as investors balanced cautious geopolitical sentiment with improving regional market fundamentals.
