Gulf stock markets decline as investors await Trump's next move on Iran

Most Gulf stock markets closed lower on Sunday as investors awaited signs of whether US President Donald Trump would order new attacks on Iran, amid reports of explosions in southern Iran and CENTCOM announcing it had fired on a commercial vessel.

Most Gulf stock markets closed lower on Sunday as investors awaited signs of whether US President Donald Trump would order new attacks on Iran. Iranian state TV reported explosions at several locations in southern Iran on Saturday evening, including on Qeshm Island. Following this, the Revolutionary Guard navy announced that two tankers had caught fire after being hit by mines in what it described as a prohibited area. Saudi Arabia's index fell 0.8%, dragged down by a 1.5% drop in Al Rajhi Bank shares and a 1.3% decline in National Commercial Bank shares. Saudi Arabia's energy ministry said debris from an attack hit an administrative office of Aramco in Riyadh without causing injuries, while Aramco shares fell 0.3%. Meanwhile, US Central Command (CENTCOM) said one of its aircraft fired on a commercial vessel and stopped it after it attempted to break the US blockade on Iran. Qatar's index trimmed early losses to close 0.5% lower. Qatari Prime Minister Mohammed bin Abdulrahman Al Thani told Al Jazeera that Doha is still mediating between Washington and Tehran to prevent escalation.