Gulf Stocks Rise as Oil Rebounds and Saudi Aramco Crushes Q2 Earnings

Gulf stocks rose in early trading on Tuesday as oil prices rebounded and strong earnings from Saudi Aramco calmed nerves over mixed signals on US-Iran talks.

The Tadawul All Share Index (TASI) and Aramco shares both gained about 0.4% after the state-owned oil giant reported a 44% jump in second-quarter profit to $32.69 billion, up from $22.67 billion a year earlier.

Oil prices also swung back, with Brent crude rising 1.2% to $84.79 a barrel, following a 7% drop the previous session.

Dubai and Abu Dhabi stocks also gained as investors focused on company-specific news, while shipping data suggested little near-term disruption in traffic through key chokepoints.