UAE Shares in Red as Geopolitical Jitters, Volatile Oil Prices Remain in Focus

07:48 AM EDT, 08/10/2026 (MT Newswires) -- Stocks in the United Arab Emirates closed lower on the first trading day of the week as uncertainty surrounding the reopening of the Strait of Hormuz and fluctuating oil prices dampened sentiment. At the close of Monday trading, the FTSE ADX General Index lost 0.101%, while the DFM General Index was down 0.73%. "Oil prices remain supported by uncertainty surrounding the Strait of Hormuz. While US President Donald Trump said Washington is 'semi-negotiating' with Iran, suggesting a focus on economic pressure rather than military escalation, significant hurdles remain before any broader agreement is reached," ING analysts said. "Reports indicate that Iran and Oman are nearing an agreement on a shipping route through Hormuz, though a full reopening of the waterway is still likely to depend on progress in US-Iran talks." As of 3:45 pm UAE time, the Brent crude oil futures stood at nearly $84.803 per barrel, up 1.50% from the previous day. Zooming in at home, the Abu Dhabi Securities Exchange recorded a 3.7% year-over-year growth in total trading volume in the first half, achieving a market capitalization of 2.8 billion Emirati dirhams and net positive inflows of 1.4 billion dirhams. "In H1 2026, we continued to expand market access, strengthen infrastructure, and introduce innovations and solutions to enable local and international investors to participate in our market more efficiently and in a more timely manner. The results reflect an agile platform designed for resilience, sustainable growth, and long-term value creation," Abu Dhabi Securities Exchange Group Chief Executive Officer Abdulla Salem Alnuaimi commented. Over to corporates, Adnoc Gas (ADX:ADNOCGAS) gained 0.59% at closing and was the Abu Dhabi bourse's most traded stock by value and volume. The natural gas distribution company's profit for the first half fell 34% year-on-year due to export disruptions amid ongoing regional developments in the Middle East. Emirates Investment Bank (DFM:EIBANK) logged a lower profit of 11.1 million dirhams for the period. Shares of the Dubai-listed lender were flat at the time of closing.