Gulf markets rise as oil gains lift sentiment

Business Recorder reported that most Gulf bourses finished higher on Sunday, with crude prices providing support. The move came as the United States threatened economic penalties on Iran's trading partners, a step that raised expectations of tighter crude availability in the weeks ahead. Brent had already settled at $94.39 a barrel on Friday.

Saudi Arabia's main index advanced 1.1%, led by materials and finance stocks. National Shipping Company of Saudi Arabia jumped 9.5%, reaching 37.30 riyals, its strongest close in two decades. Saudi crude exports rebounded in June to 3.993 million barrels daily, having hit a record low in May.

Qatar's index edged up 0.1%, while Egypt's blue-chip index added 1.1% for a second straight session. Telecom Egypt advanced 3.1% after disclosing it is set to enter the FTSE Emerging Markets Index, a change tied to the provider's September semi-annual review.