March 1, 2026, 3:11 p.mMarch 1, 2026, 3:11 p.m
The stock markets in the Middle East all closed in the red on Sunday. They were open as usual, despite the escalation following the US and Israeli attack on Iran and its retaliatory strikes.
The Saudi Arabian Tadawul All Share Index was supported by the oil company Aramco.Image: keystone
The Saudi Arabian Tadawul All Share Index fell by 2 percent to 10,488 points – the biggest daily loss since April 2025. The index was supported by the oil company Aramco, whose shares rose by 3.4 percent. Rising oil prices are likely to be positive for the group.
In Jordan, the Amman SE General Index fell by 1.6 percent to 3,541 points. The stock exchange in Oman also fell by 2 percent and in Bahrain by 1 percent. The Tel Aviv stock exchange remained closed on Sunday.
The OPEC+ oil producer alliance decided on Sunday to increase its production for April by 206,000 barrels per day, thereby reacting more strongly than expected to the war in Iran and the threat to important transport routes. Eight countries, including Saudi Arabia and Russia, decided to increase the rate citing market balance.
According to experts, the additional quantity is unlikely to be enough to compensate for possible delivery failures via the Strait of Hormuz, through which around a fifth of global oil consumption is transported. In the event of a prolonged escalation, oil prices could rise significantly and, according to experts, climb back above $120 per barrel.
After the attacks by the USA and Israel on Iran and the subsequent closure of the Strait of Hormuz between the Persian Gulf and the Gulf of Oman by Tehran, several shipping companies, oil companies and trading houses have stopped their trips through the strait. (hkl/sda/awp/ans/afp)