UAE Stocks Drop Amid Iran’s Threat to Gulf Energy and Water Supplies
Markets in the United Arab Emirates slid on Monday after Tehran warned it could strike energy and water infrastructure across the Gulf. The move heightened fears over regional supply routes and hit investor sentiment.
Market movements
Dubai’s main index fell 2.7% in early trade. Losses were led by property and banking stocks.
- Emaar Properties dropped 4.6%.
- Emirates NBD fell 2.9%.
- Abu Dhabi’s benchmark slipped 1.6%.
- Aldar Properties declined 5%.
- Abu Dhabi Commercial Bank sank 4.9%.
Energy and utilities names also weakened. Abu Dhabi National Energy Company, known as TAQA, dipped 3.6%.
Energy firms and shipping disruption
ADNOC Gas shares tumbled 2.7% after the company said it had made temporary production adjustments. The cuts affected liquefied natural gas and other export-traded liquids.
ADNOC Gas said operations continued safely across its assets. Inspections after debris fell near some sites found no injuries and no damage to core processing integrity.
Utilities and water providers
Dubai Electricity and Water Authority eased 0.8% as investors weighed the risk to supply infrastructure. Concerns about damage to water and energy systems pressured regional utilities.
Wider regional context
The exchange moves followed a U.S. threat to Iran’s power grid and Tehran’s retaliatory warning. The conflict is now in its fourth week after more than three weeks of intense strikes.
Fighting has pushed up energy prices. It has also disrupted air travel and hampered shipping through the Strait of Hormuz.
Year-to-date losses widened. Dubai’s index has fallen 10.7% so far this year. Abu Dhabi’s market is down 5.9%, according to LSEG data.
Filmogaz.com reporting from Bengaluru.
