Gulf markets ended lower on Thursday as the Houthis threatened more attacks on Saudi Arabia, putting the country's benchmark index on track for a sixth weekly loss.The Saudi index dropped 0.3%, pulled
Gulf markets ended lower on Thursday as the Houthis threatened more attacks on Saudi Arabia, putting the country's benchmark index on track for a sixth weekly loss.
The Saudi index dropped 0.3%, pulled down by a 3.1% slide in ACWA Power Company and 0.4% fall in oil behemoth Saudi Aramco.
On Wednesday, Yemen's Houthis pledged to keep attacking airports and oil facilities in the kingdom. The threat came a day after a Houthi strike caused extensive damage to Aramco's headquarters in Dhahran, where a fire spread across several floors, three people with direct knowledge of the matter told Reuters.
The European Union and Gulf states postponed a joint summit planned for Saudi Arabia next week, as sustained attacks by the Iran-aligned Houthis raised concerns about air travel to and from the kingdom, officials said on Thursday.
The international benchmark lost $1.15, or 1.1%, to $104.91 a barrel by 1157 GMT.
Shipping risks are also growing. A container ship and a dry bulk carrier sank near the Strait of Hormuz within 24 hours after projectiles hit them in separate incidents, maritime officials said on Wednesday.
Qatar's index led losses in regional stocks, falling 1.2% to its lowest level in more
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