Saudi Shares Close Monday Lower as US-Iran Conflict Reignites

08:31 AM EDT, 08/31/2026 (MT Newswires) -- Saudi equities ended the last trading day of August lower as the re-escalation of geopolitical tensions between the US and Iran sent the Tadawul Index 0.28% in red on Monday. Iran launched drone strikes on two US military bases in Jordan. The attacks were made in retaliation for the US' attack on two Islamic Revolutionary Guard Corps rocket launchers on Larak Island in the Strait of Hormuz. The attacks sent oil prices higher on Monday. "Oil prices started the week stronger following the first military strikes between the US and Iran in a month. ICE Brent briefly moved back above US$90/bbl in early morning Asia trading," ING said. "This reinforces concerns about a prolonged stalemate between both sides and, as a result, disruptions to energy flows from the Persian Gulf." Back at home, data from the Saudi Central Bank showed that the country's July M3 money supply increased 8.2% year over year, following an 8.4% increase in the prior month. Meanwhile, private bank lending rose 5.6% in the reporting month, compared with the 6.8% growth in June. On the corporate front, Tam Development (SASE:9570), AlMuneef Co. for Trade, Industry, Agriculture and Contracting (SASE:9569) and Group Five Pipe Saudi Co. (SASE:9523) released their financial statements for the first half of 2026. The first two stocks reported lower net profit and revenue for the six months ended June 30. Group Five Pipe Saudi, on the other hand, logged higher results for the reporting period. Tam Development and Almuneef shares were 2.88% and 5.57% lower, while Group Five closed 7.14% higher. Meanwhile, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, shares closed 0.23% in the green as it disclosed higher monthly contract prices for liquefied petroleum gas in September.