This photo took a view on December 12, 2019, showing the logo of the Bourse of the Saudi Arabian Stock Exchange Market (Tadawul) in the capital Riyadh.
Fayez Nureldine | AFP | Getty Images
Most of the markets in the Middle East were higher on Sunday after the United States Entering the War Between Israel and Iran, three major Iranian nuclear sites were attacked, Fordo, Natanz and Isfahan.
Tel Aviv shares reached an all-time high on Sunday, betting on entry of Washington’s conflict with Tehran, despite Iran’s foreign minister insisting that the country cannot resume diplomacy when under attack. ”
On Sunday, the broader TA-125 index traded 1.77% higher, while the TA-35 (Tel Aviv’s blue chip index rose 1.5%. The country climbed in Israel last week after hitting Iran’s target.
In the Gulf, Saudi Arabia’s Tadawul opened nearly half a percent on Sunday, then wiped off early gains and closed 0.3 percent. Qatar rose 0.2%, while the Bahrain index rose 0.3%. Bahrain, home of the U.S. Central Command, issued a “family mandate” on Sunday urging citizens to “use the main roads only to maintain public safety if necessary.”
Egypt’s benchmark EGX30 is the region’s main earner, closing 2.7% higher on Sunday.
“The Gulf has been long distances and has been calling for comfort, support for a peaceful solution and condemning Israeli aggression,” Amwal Capital Partners founding partner and CIO Fadi Arbid told CNBC. He explained that such remarks “help the Gulf isolate in conflict” and any significant short-term market impact, adding that the net medium term is positive.
“The market may be priced, and it’s an Iranian threat,” Arbid said.
Saudi Arabia, the UAE and Qatar have all released statements in the past 24 hours, the UAE Urge to stop escalating immediately to “avoid serious impact” of the areaSaudi Arabia Show attention and Qatar says It “deprecated” in the conflict between Israel and Iran.
Destruction of the hormuz Strait
Investors will be watching the swing Oil Market When it opens later tonight, and whether Iran intends to block the Hormuz Strait, Hormuz is a key waterway, with one-quarter of the world’s oil supply passing through.
Tanker trackerIt is a website that tracks global oil transport, he said that as of 3:40 pm in the UAE on Sunday, “Traffic traffic on tankers is still moving in both directions within the hormuz Strait,” AIS data.
“Oil prices could be higher, further increasing the geopolitical risk premium,” Giovanni Staunovo, a commodity analyst at UBS, told CNBC on Sunday.
Prices fell 2% in front of the U.S. president Donald Trump Move to the war between Israel and Iran. Brent’s futures have grown 11% since Israel’s attack on Iran less than two weeks ago, and Brent and U.S. crude have been volatile since then. Prices are expected to rise on Monday after Washington strikes against Iran’s nuclear facilities.
“The oil market could see the U.S. attacks as a significant increase in war and increase the security of supply risks,” Edward Bell, acting chief economist at the UAE NDB, told CNBC. He added that the market is still subject to headlines rather than fundamentals and said it will be “significantly volatile” in the coming days.
“Although oil flows from the Gulf have not been interrupted and oil infrastructure has not yet been directly attacked, the market is still likely to be priced at high geopolitical premiums,” Bell said.
