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Crude oil rose more than 3% to above $103 a barrel on Wednesday as escalating Middle East hostilities heightened concerns about supply disruptions. Yemen’s Iran-aligned Houthis attacked Aden airport and claimed a missile strike on Saudi Arabia’s largest oil refinery, which has a capacity of 550,000 barrels per day, alt
Qatari mediators presented Iran with a proposal to end the war.
Saudi index fell and was dragged by Saudi Aramco; Qatar retreated on Qatar National Bank weakness; Dubai slid with Salik Co; Abu Dhabi fell. Investors also weighed LNG-flow disruption tied to QatarEnergy force majeure notices and Strait of Hormuz closure.
Major Gulf markets traded mixed early Tuesday as US and Iranian officials held separate talks via mediators, with Qatar, Saudi Arabia and Dubai moving differently and LNG flow disruption clouding sentiment.