Mideast Stocks: Gulf markets mixed as US-Iran tensions, Hormuz disruption weigh

Telecom Egypt SAE

13/08/2026 14:11

Updates to closing prices
By Ateeq Shariff
Aug 13 (Reuters) - Gulf stock markets ended mixed on Thursday, as investors weighed stalled efforts to end the months-long U.S.-Iran conflict, continued disruptions to shipping through the blockaded Strait of Hormuz and a softening outlook for oil demand.
Iran and the United States remain at odds over a permanent settlement, with a senior Iranian source saying there had been no progress on reviving the interim agreement reached in June or setting a timetable for its implementation.
Hopes for a breakthrough were further dampened after U.S. President Donald Trump renewed his criticism of Iran's leadership, while fresh attacks on shipping on Tuesday underscored the risks facing regional trade.
Iran controls and manages the Strait of Hormuz, the newly appointed Basij chief Taeb said on Thursday, rebutting Trump's claim that the U.S. had "total control" of the strategic waterway. Taeb said Washington's attempt to weaken Iran's regional influence through another Hormuz conflict had failed.
A surprise rise in U.S. crude inventories, coupled with lower consumption forecasts from OPEC and the International Energy Agency, added to pressure on the energy outlook.
Saudi Arabia's benchmark index .TASI was down 0.2%, with Sabic Agri-Nutrients Company 2020.SE losing 3.4%.
Elsewhere, oil major Saudi Aramco 2222.SE lost 0.5%.
Brent futures LCOc1 were down $1.54, or 1.7%, at $87.44 a barrel by 1140 GMT. O/R
The kingdom's crude exports from the Red Sea are becoming increasingly difficult to track as tankers disable their transponders to reduce the risk of Houthi attacks, with analysts saying all recent loadings from Yanbu have been carried out "dark."
Dubai's main share index .DFMGI eased 0.2%, hit by a 0.9% fall in blue-chip developer Emaar Properties EMAR.DU.
In Abu Dhabi, the index .FTFADGI added 0.3%.
The Qatari index .QSI fell 0.4%, weighed down by a 3% slide in petrochemical maker Industries Qatar IQCD.QA.
Outside the Gulf, Egypt's blue-chip index .EGX30 rose 0.4%, buoyed by a 5.1% jump in Telecom Egypt ETEL.CA following a sharp rise in second-quarter profit.
     
Saudi Arabia
.TASI fell 0.2% to 10,824
Abu Dhabi
.FTFADGI gained 0.3% to 10,045
Dubai
.DFMGI lost 0.2% to 5,908
Qatar
.QSI dropped 0.4% to 10,021
Egypt
.EGX30 rose 0.4% to 55,252
Bahrain
.BAX added 0.1% to 1,954
Oman
.MSX30 was up 0.4% to 7,509
Kuwait
.BKP lost 0.2% to 9,298
     

 (Reporting by Ateeq Shariff in Bengaluru; Editing by Rashmi Aich and Mrigank Dhaniwala)
 ((AteeqUr.Shariff@thomsonreuters.com; +918061822788))