Gulf stock markets retreated on July 9, 2026, after hostilities between the United States and Iran resumed in the Strait of Hormuz. Dubai’s Financial Market General Index fell 0.2% to close at 5,991 points, while the Qatar Stock Exchange had temporarily suspended trading. Brent crude, the global oil benchmark, fluctuated between $80 and $100 per barrel as traders assessed the likelihood of sustained supply disruption. The Strait of Hormuz carries roughly a fifth of the world’s daily oil supply. Cryptocurrency was absent from Gulf investors’ hedging strategies during this geopolitical flare-up, contradicting previous claims that Bitcoin could serve as a safe-haven asset during periods of instability.
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