ABU DHABI, March 1, 2026, 12:40 (GST) — Market shut its doors.
- The ADX benchmark slipped 1.3% on Friday, with banks and consumer stocks driving losses.
- Major airports across Gulf hubs shut down after weekend strikes and retaliatory attacks.
- Oil’s back in focus with trading open again, and the OPEC+ output decision is drawing renewed attention.
Abu Dhabi shares open the week under pressure, as traders keep a close eye on the escalating Iran conflict—already rattling Gulf cities. Dubai’s airport area took damage, and smoke was seen drifting above the Jebel Ali port, according to Reuters.
Gulf stocks mostly slid on Sunday, as traders pulled back from riskier bets amid heightened geopolitical jitters and the prospect of more volatile moves ahead. Barclays hiked its Brent crude outlook sharply—now calling for prices around $100 a barrel, up from $80 just the day before, according to Reuters.
The Abu Dhabi Securities Exchange (ADX) stayed closed on Sunday, the market status reflected as shut. Local investors sat on weekend headlines, with trading set to resume next session.
The FTSE ADX General Index (FADGI) settled at 10,453.88 points on Feb. 27, slipping 141.41 points, or 1.33%, from the previous session’s close.
Abu Dhabi’s main index lost 1.3% Friday after U.S.-Iran negotiations in Geneva failed to yield progress, raising worries over more military action. Oman’s foreign minister said technical talks will shift to Vienna next week. First Abu Dhabi Bank dropped 2.4%, Americana Restaurants tumbled 5.6%. Brent crude firmed, gaining 1.96% to $72.14 a barrel as of 1134 GMT.
Abu Dhabi’s ADNOC has offered partners additional Murban crude for April, two trade sources said, as heightened geopolitical risk pushed up premiums for shipments through the Strait of Hormuz. “The boost in exports will definitely create a short-term buffer,” said Scott Shelton, analyst at TP ICAP. Reuters
OPEC+ — the group that brings together OPEC and partners like Russia — is set to meet Sunday, with talk swirling about a possible April output hike beyond the scheduled 411,000 barrels a day. One source said the figure being floated might top that.
Abu Dhabi investors face another headache as airspace closures ripple across the region. Dubai, Doha, and Abu Dhabi all saw their hubs shuttered after the strikes. Reuters noted that Dubai’s airport—handling over 1,000 daily flights—took a hit, sustaining damage. “The scale of these hubs today is just so enormous,” said John Strickland, a UK aviation analyst. Eric Schouten of Dyami flagged the risk that airspace could remain shut “for quite some time”. Reuters
ADX action usually hits banks and liquid blue chips first—those get sold hardest when investors trim risk. Energy-linked stocks might go either way. Sure, higher crude helps cash, though wider market stress can overwhelm everything else.
But it’s hardly a one-way street. A bigger OPEC+ supply increase might put the brakes on oil’s surge, while even the slightest hint that attacks are easing could spark a sharp relief rally in beaten-down financials and consumer names.
Most of the week’s action hits early, with the OPEC+ decision and developments on the Iran conflict in focus. As ADX reopens, traders are watching for ripple effects—shipping through Hormuz, travel across Gulf hubs—anything that shakes up the usual flow.
