Reuters: Gulf markets await Iran-US agreement
Gulf stock markets continued their trading on Sunday as investors remain in anticipation of the outcome of a potential agreement between Iran and the US to extend the ceasefire.
Saudi Arabia’s main stock index rose by 0.5% after five days of closure, while Qatar’s stock index fell by 0.4%.
These developments occurred as Mohammad Bagher Ghalibaf, the head of Iran’s negotiating team, announced that Tehran would only agree to end the conflicts if the rights of the Iranian nation are guaranteed.
At the same time, oil prices fell by more than two percent at the end of last week, marking their biggest weekly drop since early April, a situation attributed to hopes for reaching an agreement and reducing tensions in the region.
According to a Reuters report, regional markets are still waiting for Donald Trump’s final decision on the initial understanding, which is said to include extending the ceasefire and reducing shipping restrictions in the Strait of Hormuz.
