Market dynamics have been significantly impacted by ongoing tensions between the U.S. and Iran, particularly surrounding the strategic Strait of Hormuz. Despite stalled negotiations, most Gulf bourses recorded gains while oil prices edged higher, with Brent crude nearing $90 a barrel. Recent Iranian attacks have disrupted shipping traffic, which has plummeted to levels far below pre-conflict averages, raising concerns about supply stability. The situation remains fluid, with fears of continued disruptions driving the oil market as stakeholders react to the unfolding geopolitical landscape.