Stocks Drop Across the Gulf as Oil Tankers Incident Fuels Risk
- Equities in Dubai, Qatar, Oman and Saudi Arabia decline
- The U.S. Fifth Fleet says two oil tankers were damaged
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Every major stock index in the Gulf retreated after an incident in the Sea of Oman threatened to inflame the already tense relationship Iran has with its neighbors. Bonds also fell.
The benchmark equity indexes in Dubai, Kuwait, Riyadh, Muscat and Doha fell 1% or more. The yield on its 2028 dollar bonds climbed 7 basis points, the most among Gulf peers.