Gulf Bourses Plummet as US-Iran Tensions Flare

Most Gulf bourses closed lower on Thursday, weighed down by mixed signals on the US-Iran conflict and rebounding regional oil flows.

Saudi Arabia's benchmark index dropped 0.5 percent due to a 1.6 percent retreat in Saudi National Bank, its biggest lender by assets, but oil giant Saudi Aramco gained 0.2 percent.

The restart of the East-West Pipeline and resumption of tanker loadings at Yanbu port signal a return to exports from the Middle East.

OPEC's second-largest member has been impacted by a drone strike last month, but trade data shows that it is now back online.