Saudi shares fall as U.S.-Iran tensions worsen

Saudi shares fall as U.S.-Iran tensions worsen
22/06/2019 , by , in INTERNATIONAL

Saudi Arabia’s stock market fell on Thursday amid escalating tensions in the Middle East after a U.S. drone was shot down by Iranian missile, while Dubai rose on back of its real estate shares.

Fears of a major military confrontation grew after the attack on the drone, which Iran’s Revolutionary Guards said on Thursday was flying over southern Iran .

The threat of a confrontation has increased since attacks on two oil tankers in the Gulf of Oman last week and on four tankers off the United Arab Emirates on May 12, both near the Strait of Hormuz, a major conduit for global oil supplies.

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