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DUBAI: Most stock markets in the Gulf ended lower on Monday after a report suggesting Iran might be preparing a retaliatory strike on Israel unnerved investors.

The United States has warned Iran against launching another attack on Israel, adding Washington will not be able to restrain Israel if it attacks again, Axios reported on Saturday, citing a US official and a former Israeli official.

Axios previously reported Israeli intelligence suggests Iran is preparing to attack Israel from Iraqi territory in the coming days.

Saudi Arabia’s benchmark index eased 0.1%, with aluminium products manufacturer Al Taiseer Group falling 0.2% and ACWA Power Company dropping 2.2%.

Dubai’s main share index dropped 0.8%, with blue-chip developer Emaar Properties losing 0.8% and Tecom Group retreating 2.2%.

The Abu Dhabi index finished 0.2% lower.

Investors were also wary of the decision by OPEC+, which includes the Organization of the Petroleum Exporting Countries plus Russia and other allies, to delay plans to increase crude output by a month.

On Sunday, OPEC+ said it would extend its output cut of 2.2 million barrels per day (bpd) for another month in December, with an increase already delayed from October because of falling prices and weak demand.

Lower prices and disruptions to crude exports impact fiscal balances in countries reliant on oil income.

In Qatar, the index gained 0.4%, with Qatar Islamic Bank rising 0.9% and telecom firm Ooredoo advanced 1.8%. Qatari Emir Sheikh Tamim bin Hamad Al Thani has set Tuesday as the date for a referendum on constitutional amendments, including a proposal that would abandon an effort to introduce elections.

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