After the Rise in Oil Prices, Stock Prices Increased on the Exchanges of Persian Gulf Countries

Stock prices rose on most exchanges in the Persian Gulf region. The main driver was the increase in oil prices, following U.S. President Donald Trump's threats of new economic sanctions against Iran's trading partners. Brent crude was trading at $94.39 per barrel on Friday.

Saudi Arabia's main stock index rose by 1.1%. Al Rajhi Bank shares gained 2.1%, Saudi Arabian Mining rose 4%, while National Shipping Company of Saudi Arabia increased by 9.5%. The latter's shares reached their highest level in the last 20 years.

Qatar's stock index rose by 0.1%. Qatar National Bank shares gained 1.6%, while Qatar Gas Transport increased by 1.5%. Growth was also observed on Egypt's exchange, where the main index rose by 1.1%. Kuwait's index increased by 0.8%, there were no significant changes in Bahrain, while Oman's index declined by 0.2%.

Source: Investing.com