Oil lifts Saudi bourse; Egypt tumbles on regional tensions

Gulf markets closed mixed on Sunday as geopolitical tensions weighed on regional sentiment. Saudi Arabia rose 0.8% as oil prices lifted the mood, led by a 2.1% gain in Saudi Aramco (2222.SE). Brent crude futures settled up $3.94, or 3.7%, at $109.86—the highest since May 19—after traders warned that rising Middle East tensions could tighten supply. Gulf stocks reflected a different mood elsewhere: Qatar’s index fell 2% to 8,634, its lowest close since April 2020, with Industries Qatar down 4.3% and Qatar Islamic Bank down 2.6%. Egypt’s EGX30 slipped 2.6% to 50,896 amid ongoing regional turmoil, while Saudi said Cairo is ready to support it.