Oil and Gold Surge as Middle East Tensions Rattle Global Markets

Editor’s note: Geopolitical tensions in the Middle East are triggering a rapid market reaction, with oil and gold rallying while regional equities reel from disruptions. This editor’s briefing previews the immediate market response as UAE exchanges pause trading and investors weigh reopening scenarios. Market color from Josh Gilbert of eToro underscores the uncertainty and the central question: how long this disruption lasts and whether we see escalation or de-escalation in the coming days.

Rising Middle East tensions push oil and gold higher, rattling regional equities and shaping the near-term global outlook as markets await any de-escalation.

Key points

• Oil prices surged to around US$82 per barrel, with Brent rising on disruption fears in the Strait of Hormuz.
• Gold climbed above US$5,350 per ounce, reinforcing safe-haven demand amid geopolitical risk.
• Abu Dhabi and Dubai exchanges were closed, highlighting the seriousness of the situation and uncertainty around reopening.
• Risk assets weakened as capital rotated toward defensive positions, awaiting clarity on escalation or de-escalation.

Why this matters

As energy and precious metal prices respond to geopolitical risk, the near-term outlook for regional economies and global inflation remains sensitive to sentiment and policy signals. The UAE’s diversified, services-driven economy may weather disruption better than markets fear, but confidence and capital flows could face headwinds until de-escalation appears likely.

What to watch next

• Reopening trajectory for UAE exchanges after the pause, with the next 48–72 hours critical for sentiment.
• Oil price movement and its potential impact on transport costs and global inflation.
• Gold’s continued safe-haven demand versus any shift in risk appetite.
• Any changes in UAE tourism, aviation, and real estate activity tied to connectivity and confidence.

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Oil and Gold Surge as Middle East Tensions Rattle Global Markets

Abu Dhabi, UAE – 2 March 2026: Escalating tensions in the Middle East have sent shockwaves through global markets, pushing oil and gold sharply higher and raising fresh questions about the near-term outlook for regional equities.

The Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) remain closed on Monday and Tuesday in a rare move outside scheduled holidays, highlighting the seriousness of the situation. Investors are now focused on what reopening could look like once trading resumes.

Oil in Focus

Oil has been the immediate flashpoint. Brent crude surged as much as 13% to around US$82 per barrel, driven by fears of disruption in the Strait of Hormuz, which carries roughly 20% of the world’s crude oil and LNG supply.

There are, however, short-term buffers in place. The global oil market entered this period with relative oversupply, and OPEC+ had already announced a production increase of 206,000 barrels per day for April. Major consumers such as the US and China also hold substantial strategic reserves, while Saudi Arabia has pipeline capacity to reroute some exports.

Gold Surges, Risk Assets Weaken

Gold has once again acted as the clearest safe haven, climbing above US$5,350 per ounce and gaining roughly 22% year-to-date.

Meanwhile, higher-risk assets, including cryptocurrencies, have come under pressure as investors rotate toward defensive positions.

Direct Impact on the UAE

For the UAE, the implications extend beyond market volatility. Real estate, tourism, aviation, and retail — key pillars of economic diversification — are particularly exposed.

Dubai averaged approximately 13,000 home sales per month last year at an average price of AED 2.5 million, largely supported by foreign investment and expatriate inflows. With around 350,000 new units expected to come to market over the next two years, any sustained hit to confidence or capital flows could challenge demand absorption.

Tourism is another critical sector. Travel and tourism accounted for around 13% of UAE GDP in 2025. With hundreds of flights cancelled and temporary airport disruptions reported, the impact is already being felt.

While higher oil prices may offer fiscal support, the UAE economy today is far more diversified and services-driven than it was a decade ago.

Staying Focused on the Long Term

Gilbert cautioned against reactive decision-making.

About eToro

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eToro believes in the power of shared knowledge and that investors can become more successful by investing together. The platform has built a collaborative investment community designed to provide users with the tools they need to grow their knowledge and wealth. On eToro, users can hold a range of traditional and innovative assets and choose how they invest: trade directly, invest in a portfolio, or copy other investors.

This article was originally published as Oil and Gold Surge as Middle East Tensions Rattle Global Markets on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.