From Yahoo Finance: 2025-06-15 09:09:00

Middle Eastern markets dropped on concerns of conflict escalation between Israel and Iran. Egypt’s stock index saw the biggest losses in over a year, fearing fuel shortages due to a halt in Israeli gas production. Israel’s equity benchmark rose with defense supplier Elbit Systems rallying. Saudi Arabia’s market declined, offset by Aramco’s gains from higher oil prices.

The ongoing conflict between Israel and Iran led to a third day of bombardments, canceling nuclear talks and undermining regional peace hopes. Egypt’s EGX 30 Index fell 7.7%, rebounding to 4.6% losses. Israel shut down gas production, impacting supplies to Egypt. Israel’s stock index rose with a 6% increase in defense supplier Elbit.

Saudi Arabia’s market mostly dropped, with gains from Aramco offsetting losses. Other markets in Kuwait and Qatar also retreated. Investors are concerned about oil supply chains and prices, with West Texas Intermediate crude futures jumping over 7% to near $73 a barrel. Deutsche Bank’s George Saravelos warns of possible oil price spikes above $120 per barrel in a worst-case scenario.



Read more at Yahoo Finance: Egypt Leads Mideast Stock Losses Amid Strikes; Israel Rebounds