UAE Stocks Begin New Week in Green; Oil Falls on Easing US-Iran Tensions

06:40 AM EST, 11/09/2026 (MT Newswires) -- Emirati stocks closed Monday in the green as hopes for easing Middle East tensions and lower oil prices boosted market sentiment. At the close of trading, the FTSE ADX General Index and the DFM General Index gained 0.963% and 1.028%, respectively. Brent crude oil futures stood at nearly $94.976 per barrel as of 3:37 pm UAE time, down 3.40% from the previous day after US President Donald Trump said Sunday that he is highly unlikely to resume strikes on Iran as long as negotiations continue to progress. Meanwhile, attacks on shipping and naval mine incidents continued near the Strait of Hormuz. "Oil prices have dropped sharply in recent days, with weakness accelerating immediately following the US midterm elections. Simplistically, we view this as the reversal of substantial risk premium that had accrued across September and October despite resilient Middle East flows and rapidly normalizing global oil balances," Macquarie said. "Although the apparent risk of near-term escalation had been building through this period, this has now given way to a renewed diplomatic push, less hawkish rhetoric from Trump, and apparent Republican introspection about the war in the aftermath of the midterms." Back home and on the corporate front, Abu Dhabi National Oil Co. for Distribution (ADX:ADNOCDIST), d/b/a Adnoc Distribution, logged 0.9% year-over-year growth in attributable profit for the third quarter driven by higher revenue amid increased selling prices, fuel volumes, and non-fuel retail performance. The Abu Dhabi-listed fuel distributor closed the session 3.16% higher. "ADNOC Distribution's strong nine-month performance demonstrates the breadth of our diversified platform and the disciplined execution of our growth strategy. We are building on this momentum to future-proof our growth by scaling higher-margin NFR opportunities and progressing our international strategy," Adnoc Distribution Chief Executive Officer Bader Saeed Al Lamki commented. In Dubai, National International Holding's (DFM:NIH) attributable profit and revenue for the three months ended Sept. 30 plunged amid ongoing geopolitical developments. The Dubai-listed investment holding company closed the session flat.