Global markets see oil price decline and Bahrain Bourse gains

Global markets saw mixed movements as oil prices declined by approximately 1% due to recovering Gulf exports and an unexpected increase in U.S. crude inventories. Brent crude futures fell 1.1% to $96.92 per barrel, while WTI crude dropped 1.4% to $89.18 per barrel. The U.S. Energy Information Administration reported that crude inventories rose by 922,000 barrels to 427.3 million barrels, contrary to analyst expectations of a decrease.

In the Bahrain Bourse, the general index closed at 1,907.79 points, up 0.99 points. Trading volume reached 854.62 thousand shares with a total value of 290.23 thousand Bahraini dinars. The financial sector dominated trading, accounting for 52.42% of the total value. Al Salam Bank led in trading value with 97.21 thousand dinars, followed by Aluminium Bahrain (Alba) with 89.73 thousand dinars.

Meanwhile, gold prices rose slightly following U.S. inflation data that came in below expectations, and the U.S. dollar remained stable near two-month highs. Geopolitical risk premiums in oil markets have been impacted by renewed diplomatic communications between the United States and Iran regarding ceasefire proposals.