Gulf Stocks: Tadawul TASI, DFM, ADX and QSE Daily — 2026-09-13
Geopolitical tensions between the US and Iran have driven volatility across Gulf markets this week, with Saudi Arabia shutting down a key oil pipeline following Houthi drone attacks. While most Gulf bourses eased on fears of energy supply disruptions, UAE markets (DFM/ADX) closed higher on Friday as oil prices surged to six-week highs.
Gulf Stocks: Tadawul TASI, DFM, ADX and QSE Daily — 2026-09-13
Top developments
Saudi Arabia Shuts East-West Crude Pipeline After Drone Attacks
On September 11, Saudi Arabia shut down its East-West crude oil pipeline after multiple drone attacks attributed to Houthi militants. This escalation has heightened concerns about regional energy security and the stability of export routes, directly impacting sentiment in the Tadawul market and raising the risk premium on Aramco-linked assets.
Oil Prices Hit Six-Week High; UAE Markets Rise on Supply Concerns
Oil prices rose to a six-week high earlier in the week after reports of hits to Saudi Aramco facilities and renewed US-Iran hostilities. This surge supported energy stocks, helping Dubai’s DFM and Abu Dhabi’s ADX close higher on Friday, September 11, despite broader regional caution. The ADX was noted as the best-performing Arab market in recent sessions due to strong liquidity and energy sector gains.
TASI Reverses Early Losses Amid Geopolitical Caution
The Saudi Tadawul All Share Index (TASI) showed resilience, reversing early losses to finish 0.1% higher on Tuesday, September 8, as traders assessed the limited impact of recent Houthi escalations on actual trade routes. However, by Thursday, September 10, most Gulf bourses eased again as US-Iran hostilities escalated, with the TASI closing lower at 21,632.63 for the parallel market Nomu, reflecting cautious positioning ahead of potential further disruptions.
Local view
Local Arabic media highlighted the divergence in market performance, with Halal Khalij reporting that local equity liquidity reached 2 billion AED, with Abu Dhabi’s ADX leading Arab markets in performance. Al-Araby Al-Jadeed noted that while most Gulf exchanges retreated due to US-Iran tensions, Kuwait, Muscat, and Abu Dhabi managed to post gains, driven by defensive buying in energy and banking sectors. Youlyou reported that Dubai and Abu Dhabi markets closed higher on Friday, September 11, specifically citing rising oil prices and energy supply fears as the primary drivers for the DFM and ADX advances.
Context & numbers
- Brent Crude: Traded at $105.84 per barrel on Friday, September 11, retreating 1.6% from the prior close but remaining near a six-week high of $109.68 intraday, influenced by Middle East supply fears and Fed rate expectations.
- TASI Close (Sept 10): The parallel market Nomu closed at 21,632.63, losing 27.17 points, with transactions valued at SAR13.5 million. Main index movements were mixed, with early gains often reversing into the close amid geopolitical headlines.
- UAE Liquidity: Local equity markets saw liquidity of approximately 2 billion AED, with ADX outperforming DFM in terms of relative strength during the week's volatility.
On the radar
- Q2 Corporate Profits: Semafor reported a growing divide in Gulf corporate profits for Q2, with Saudi and Abu Dhabi listed companies benefiting from higher oil prices and stable exports, potentially influencing upcoming earnings season sentiment.
- BofA MENA Picks: Bank of America has named top MENA oil stocks for late 2026, suggesting continued institutional interest in energy sector plays within the Gulf markets as geopolitical risks persist.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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