UAE Shares Begin New Week Upbeat on Higher Oil Prices

07:13 AM EST, 12/22/2025 (MT Newswires) -- Emirati equities kicked off a new trading week in the green as oil prices rose amid growing uncertainties between the US and Venezuela. At the close of trading, the FTSE ADX General Index added 0.693%, while the DFM General Index gained 0.713%. Oil prices jumped as Brent crude futures rose 1.96% to $57.630 per barrel at 5:12 pm UAE time after various news outlets reported that the US is in pursuit of a third sanctioned tanker near Venezuela, sparking fears of disruption in supply. Also on the geopolitical front, US President Donald Trump's envoy Steve Witkoff said that talks between the US, Ukrainian, and other European leaders in Miami focused on ending the war in Ukraine were productive and constructive. Back home, the WAM news agency reported a 97% utilization rate of artificial intelligence tools in the United Arab Emirates, backed by partnerships, a 5-gigawatt UAE-US AI Campus in Abu Dhabi, as well as the launch of the Stargate UAE project. Over to corporates, Presight AI (ADX:PRESIGHT) signed a multi-year deal with the Ministry of Internal Affairs of the Republic of Albania for the deployment of an artificial intelligence-based smart city program in Albania. Shares of the Abu Dhabi-listed big data analytics company closed the session 0.60% higher. Also, Modon Holding (ADX:MODON) closed 1.19% in the green as it formed a joint venture with Related Companies and Panepinto Properties to develop the 54-story Harborside 4 luxury residential tower in the US. "Harborside 4 aligns strongly with our international growth strategy, combining a prime development opportunity with a structured delivery plan and partners with deep capability and Modon's goal to enhance its long-term recurring income," Modon's group Chief Executive Officer Bill O'Regan said. Dubai-listed Unikai Foods (DFM:UNIKAI) shares paused trading amid a board meeting on Monday. The consumer goods stocks were unchanged when they last traded on Oct. 9.