The benchmark index in Saudi Arabia declined 0.3 per cent, with ACWA ​Power shedding 1.9 per cent

Gulf equities ended subdued on Sunday after marathon talks failed to deliver ​an Iran-U.S. breakthrough, clouding hopes for a lasting settlement and putting ‌the fragile two-week ceasefire under renewed strain.

The 21-hour negotiations ended in mutual recriminations. The war, which began more than six weeks ago, has unsettled the global economy and sent oil ​prices sharply higher.

Pakistani Foreign Minister stressed the ⁠need to preserve the ceasefire, while U.S. Vice President JD Vance said American officials were leaving ​Pakistan without a deal.

In Qatar, the index dropped 0.1 per cent, hit by ​a 1.5 per cent decline in petrochemical maker Industries Qatar and a 2 per cent drop in ​Qatar Gas Transport.

The benchmark index in Saudi Arabia – which has been shielded from much of the disruption by its ability to reroute oil exports – declined 0.3 per cent, with ACWA ​Power shedding 1.9 per cent.

The kingdom said on Sunday it had restored the East-West pipeline ​to its full pumping capacity of about seven million barrels per day, just days after ‌assessing ⁠damage to its energy infrastructure from attacks during the Iran conflict.

Even as diplomacy faltered, early signs of normalisation ​appeared in energy shipping, ​with three fully ⁠laden supertankers passing through the Strait of Hormuz on Saturday — the first such transit since the ceasefire.

Iran’s blockade of ​the Strait — a conduit for nearly 20 per cent of global ​oil and ⁠LNG trade — has disrupted supplies and driven oil prices sharply higher.

Bahrain’s stock index was down 0.1 per cent, while Boursa Kuwait edged 0.1 per cent higher.