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Vessels near the Strait of Hormuz, as seen from Musandam, Oman, August 10, 2026. REUTERS/Stringer     TPX IMAGES OF THE DAY
Vessels near the Strait of Hormuz, as seen from Musandam, Oman, August 10, 2026. REUTERS/Stringer TPX IMAGES OF THE DAY
A general view shows the Dubai Financial Market after Joe Biden wins U.S. presidency, in Dubai, United Arab Emirates November 8, 2020. REUTERS/Christopher Pike/File Photo
A general view shows the Dubai Financial Market after Joe Biden wins U.S. presidency, in Dubai, United Arab Emirates November 8, 2020. REUTERS/Christopher Pike/File Photo
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Most Gulf bourses gain despite stalled Iran talks, Hormuz disruption

August 16th, 2026 | 13:16 PM BUSINESS Energy 1

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By Ateeq Shariff

Most Gulf stock markets rose on Sunday despite ongoing regional uncertainty, with peace ​talks showing no signs of progress and oil ‌tanker traffic through the strategic Strait of Hormuz yet to fully resume.

Iran urged the United States on Saturday to ​concede defeat, while President Donald Trump branded Tehran "very ​evil" and warned Americans to expect persistently ⁠high fuel prices because of the war.

Saudi Arabia's ​benchmark index (.TASI) advanced 0.9%, led by a 1.5% rise ​in Al Rajhi Bank (1120.SE) and a 1% increase in oil major Saudi Aramco (2222.SE).

On Friday, Brent futures settled at $88.52 a ​barrel, up $1.45, or 1.67%.

Elsewhere, Tihama for Advertising, Public ​Relations and Marketing Co (4070.SE) rose 7.3% after its board terminated Chief ‌Executive ⁠Hussain Masoud Al-Dossari's contract. The company named Shakir Ahmed Saleh Al-Saleh as the new CEO.

In Qatar, the index (.QSI) added 0.2%, helped by a 1.5% rise ​in the ​Gulf's biggest ⁠lender Qatar National Bank (QNBK.QA).

Outside the Gulf, Egypt's blue-chip index (.EGX30) advanced 1.1%, with Telecom ​Egypt (ETEL.CA) increasing 3.6%, extending gains from ​the previous ⁠session following a steep rise in quarterly profit.

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