-- The Tadawul All Share Index is back in the red, closing 0.45% lower on Thursday, as the threat of another possible escalation of the US-Iran conflict dampened investor sentiment and raised oil prices.
"The main catalyst for the latest jump in oil prices was a report from Axios, suggesting that an escalation in the conflict was still being considered as an option. And overnight, they've reported that Trump is set to receive a briefing today on potential plans for military action. According to that article, US Central Command had prepared a 'short and powerful' wave of strikes that would aim to break the negotiating deadlock," Deutsche Bank Research said in a note.
In other news, and as expected, the US Federal Reserve decided to maintain interest rates at the 3.5% to 3.75% range at its meeting on Wednesday. At a news conference, Chair Jerome Powell disclosed that he will stay as a governor after his term as chair ends on May 15.
Back at home, Saudi Arabia's seasonally adjusted real gross domestic product declined 1.5% quarter over quarter in the first quarter of 2026, flash data from the General Authority for Statistics showed.
On the corporate front, Sumou Real Estate (SASE:4323) shares ticked up 0.94% as it secured a 36-month project to manage the superstructure development of the 149-villa Al Dhahiya Residence project in Mecca.