Most Gulf stocks remained subdued amid escalating tensions between Iran and the United States. This follows Iranian strikes on petrochemical facilities in the UAE, Kuwait and Bahrain. The United States has announced the rescue of a second airman shot down over Iran. Meanwhile, OPEC+ has agreed to raise its May oil output quotas by 206,000 barrels per day, though this increase is likely to be symbolic as key members cannot raise production amid the ongoing U.S.-Israeli war.