Gulf stocks gain on report Trump weighing end to Iran war
Published on March 31, 2026.
Most Gulf markets saw a surge in early trading due to reports that U.S. President Donald Trump is considering ending the Iran war, even if the Strait of Hormuz remains largely closed. This follows a warning from the president that he would "obliterate" Iran's energy infrastructure if the waterway remained closed. Saudi Arabia has rerouted its Gulf crude exports from the strait, with 4.6 million barrels per day sent to the Red Sea port of Yanbu, a significant increase from the previous year. The Dubai's stock index is heading for its worst monthly loss since March 2020.
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