Mideast Stocks: Most Gulf bourses gain on rising oil prices (updated)

Commercial International Bank Egypt CIB

13/01/2026 13:09

Updates to closing prices

By Ateeq Shariff

Jan 13 (Reuters) - Most stock markets in the Gulf closed higher on Tuesday helped by climbing oil prices, while investors assessed the possible impact on the dollar and interest rates after the U.S. administration threatened Federal Reserve Chair Jerome Powell with a criminal indictment.

Oil prices - a catalyst for the Gulf's financial markets - extended gains as heightened concerns surrounding major producer Iran and potential supply disruptions overshadowed the prospect of increased crude supply from Venezuela.

Saudi Arabia's benchmark index .TASI advanced 1.4%, with Al Rajhi Bank 1120.SE rising 1.9% and Saudi Arabian Mining Company 1211.SE jumping 4.9%.

Elsewhere, oil giant Saudi Aramco 2222.SE climbed 2.7%.

Dubai's main share index .DFMGI gained 0.8%, with top lender Emirates NBD ENBD.DU rising 1.7% and sharia-compliant lender Dubai Islamic Bank  DISB.DU was up 1.2%.

In Abu Dhabi, the index .FTFADGI added 0.3%.

In the U.S., the Trump administration appears to be on the offensive again against the Federal Reserve, reviving concerns about the central bank's independence and contributing to greater uncertainty over the economic outlook.

Gulf markets often track shifts in U.S. rate expectations, as most regional currencies are pegged to the dollar.

Further fuelling geopolitical worries, U.S. President Donald Trump said Monday that any country doing business with Iran will be hit with a 25% U.S. tariff, as Washington considers how to respond to Iran's crackdown on major anti-government protests.

The Qatari index .QSI concluded 0.6% higher, with Qatar Islamic Bank  QISB.QA putting up 1.8%.

Post trading hours, the Gulf's biggest lender by assets Qatar National Bank QNBK.QA, which ended 1% higher, reported an annual net profit of 17 billion riyals ($4.66 billion).

Outside the Gulf, Egypt's blue-chip index .EXG30 rose 0.7%, with Commercial International Bank  COMI.CA  leaping 4.5%.

Saudi Arabia
.TASI rose 1.4% to 10,894
Abu Dhabi
.FTFADGI added 0.3% to 10,032
Dubai
.DFMGI gained 0.8% to 6,319
Qatar
.QSI climbed 0.6% to 11,229
Egypt
.EGX30 was up 0.7% to 43,684
Bahrain
.BAX eased 0.1% to 2,045
Oman
.MSX30 lost 0.2% to 6,178
Kuwait
.BKP advanced 0.9% to 9,424

($1 = 3.6500 Qatar riyals)

 (Reporting by Ateeq Shariff in Bengaluru; Editing by Hugh Lawson and Shailesh Kuber)

 ((AteeqUr.Shariff@thomsonreuters.com; +918061822788))