UAE Stocks Closed Mixed; Oil Prices Surge Above $110 as Middle East Tensions Intensify

07:42 AM EDT, 10/20/2026 (MT Newswires) -- Emirati stocks ended Tuesday's trading on both ends of the spectrum as escalating tensions and shipping attacks in the Middle East sparked fears of further disruption to energy supplies. At the close of trading, the FTSE ADX General Index was 0.472% in the green, while the DFM General Index declined 0.286%. Oil prices held near a five-month high on Tuesday, with Brent crude oil futures trading at nearly $111.68 per barrel as of 3:34 pm UAE time, up 1.95% from the previous day. The upward pressure was driven by Yemen-based Houthis claims of attacks on Saudi energy and airport infrastructure and a surge in Iranian attacks on shipping in the Strait of Hormuz. "Oil prices remain well-supported amid ongoing tensions in the Middle East despite relatively strong Persian Gulf flows. This suggests the market is pricing in a significant risk premium, given the situation's volatility. However, if flows continue uninhibited despite the geopolitical environment, the risk premium would likely erode slowly. Clearly, there are no signs of this yet," ING said. Zooming in at home, Sharjah National Oil Corp. inked a memorandum of understanding with Norwegian energy company Equinor to explore opportunities for the storage, logistics, and supply of liquefied petroleum gas, natural gas liquids, and other oil and gas products. Pure Health Holding (ADX:PUREHEALTH) renewed its liquidity provision deal with brokerage services provider Arqaam Securities for the former's shares listed on the Abu Dhabi bourse. The healthcare services company closed the session 1.15% higher. Meanwhile, Emirates NBD (DFM:EMIRATESNBD) asset management arm Emirates NBD Asset Management and BlackRock unveiled the FundStar Emirates CLO AA Fund and the Emirates Systematic Income and Growth Fund to boost investment opportunities for clients. Emirates NBD shares were 0.25% in the green at closing.