U.S.-Israel-Iran Conflict Enters Third Week, Gulf Stock Markets Slightly Decline

Odaily Most Gulf stock markets saw slight declines on Sunday. Saudi Arabia's benchmark stock index fell by up to 0.8%, with Al Rajhi Bank dropping 0.9% and the kingdom's largest lender, Saudi National Bank, falling 1.9%. The Qatar index declined by 0.5%, with Qatar National Bank, the region's largest lender by assets, down 1.3%. Bahrain's benchmark index fell 0.3%, while Oman's benchmark index dropped 0.4%. Currently, the U.S.-Israel-Iran conflict has entered its third week, with U.S. President Donald Trump threatening further strikes against Iran's Kharg Island oil export hub, while Iran has vowed to intensify its response. Additionally, three sources familiar with the matter stated that the Trump administration has rejected efforts by Middle Eastern allies to initiate diplomatic negotiations aimed at ending the war between the U.S.-Israel and Iran. Trump has also called on allies to deploy naval vessels to help secure the Strait of Hormuz, which is crucial to global energy supplies. (Jin10)