Mideast stocks-Most Gulf markets in the red amid escalating hostilities

Qatar's stock market was closed as the Qatar Stock Exchange joined the nation in mourning the passing of His Highness the Father Emir, Sheikh Hamad bin Khalifa Al Thani.

Saudi Arabia's benchmark index .TASI eased 0.2%, with oil major Saudi Aramco 2222.SE falling 0.5%.

Meanwhile, Brent crude futures LCOc1 climbed $3.10, or 4.08%, to $79.11 by 0325 GMT. O/R

Dubai's main share index .FTFADGI declined 1.4%, dragged by a 2.6% slide in the top lender, Emirates NBD ENBD.DU, and a 1.4% decrease in blue-chip developer Emaar Properties EMAR.DU.

In Abu Dhabi, the index .FTFADGI fell 0.5%, with Abu Dhabi Islamic Bank ADIB.AD losing 2.1%.

The United Arab Emirates' defence ministry said on Sunday its air defense systems were responding to a missile threat.

Major stock markets in the Gulf retreated on Monday as hostilities escalated across the region and Iran asserted that it had sealed the strategically vital Strait of Hormuz, sending oil prices higher and reigniting global inflation fears.

U.S. forces carried out another wave of strikes against Iran on Sunday, targeting dozens of sites across multiple locations with precision munitions, according to Central Command. Iran's Revolutionary Guards said Monday that they had retaliated by attacking U.S. military bases in Kuwait and Bahrain.

U.S. President Donald Trump said on Sunday that the Strait of Hormuz remained open to commercial traffic, despite Iran's earlier declaration that it had closed the waterway after striking a vessel it said had traveled along an unauthorized route.