Most Gulf bourses subdued on falling oil prices
Oil prices, a catalyst for the Gulf's financial markets, slid 1% as investors weighed the possibility of a peace deal between Russia and Ukraine, which would likely lead to the lifting of sanctions on Russian crude.
Brent crude was trading at $65.97 a barrel, as of 0745 GMT.
Saudi Arabia's benchmark stock index (.TASI), opens new tab fell 0.2%, with most constituents trading lower. Dar Al Arkan Real Estate (4300.SE), opens new tab lost 1.3% and Saudi Arabian Mining (1211.SE), opens new tab declined 0.9%.
Company For Cooperative Insurance (8010.SE), opens new tab rose 1.1% after it won a contract from National Water Company.
The Qatari benchmark index (.QSI), opens new tab slipped 0.4%, dragged down by declines in most constituents. Commercial Bank (COMB.QA), opens new tab eased 1.3% and Industries Qatar (IQCD.QA), opens new tab fell 0.8%.
The Abu Dhabi benchmark index (.FTFADGI), opens new tab was down 0.1%, pressured by a 1.2% fall in Abu Dhabi Islamic Bank (ADIB.AD), opens new tab. ADNOC Distribution (ADNOCDIST.AD), opens new tab shed 0.5% and ADNOC Logistics (ADNOCLS.AD), opens new tab declined 0.8%.
Meanwhile, Santos said the Abu Dhabi National Oil Company (ADNOC)-led consortium will not be able to finalise its $18.7 billion bid for the Australian gas producer for at least a month, well past the exclusive due diligence deadline.
Dubai's benchmark stock index (.DFMGI), opens new tab traded in a narrow range as gains in consumer staples and real estate stocks countered losses in most other sectors.
Emaar Properties (EMAR.DU), opens new tab gained 0.7% and Spinneys 1961 Holding (SPINNEYS.DU), opens new tab advanced 3.3%, while Emirates NBD (ENBD.DU), opens new tab, Dubai's largest lender, dropped 1.3%.
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