Most Gulf markets ease on fears of broader Iran conflict

Most Gulf stock markets slipped in early Sunday trading as fears of a broader Iran-linked conflict weighed on investor sentiment after Yemen's Houthis launched their first attacks on Israel since the conflict began and the US deployed additional forces to the Middle East, reports Reuters.
The Washington Post reported on Saturday that US officials said the Pentagon was making preparations for a potential multi-week ground operation in Iran, though it remained uncertain whether President Donald Trump would authorize the deployment of ground forces.
The Qatari index lost 1.1 per cent as Qatar National Bank, the Gulf's biggest lender by assets, declined by 1.3 per cent while the Kuwait bourse eased by 0.4 per cent and the Bahrain market dipped by 0.1 per cent.
Saudi Arabia's benchmark index bucked the trend with a 0.4 per cent gain, helped by a 0.4 per cent rise for Al Rajhi Bank and a 0.6 per cent advance for oil major Saudi Aramco.
Saudi Arabia's East-West pipeline, which circumvents the Strait of Hormuz, is pumping oil at full capacity of 7 million barrels per day, Bloomberg News reported on Saturday, citing a person familiar with the matter.
Brent crude futures rose by $4.56, or 4.2 per cent, to $112.57 a barrel on Friday, reflecting scepticism over prospects for a ceasefire in the month-old Iran war.