UAE Shares Rally; Geopolitical Tensions Weigh on Oil Prices

06:45 AM EST, 01/07/2026 (MT Newswires) -- United Arab Emirates indices again closed higher on Wednesday as investors assessed the latest geopolitical developments and their impact on oil prices. At the close of trading, the FTSE ADX General Index was up 0.514%, while the DFM General Index gained 1.068%. US President Donald Trump, in a Wednesday post on his Truth Social platform, said that Venezuela's interim authorities will hand over 30 million barrels to 50 million barrels of sanctioned oil to the US, which will be sold at its market price. Trump further added that the money will be "used to benefit the people of Venezuela and the United States." Reuters on the same day reported that Aidarous al-Zubaidi, leader of the UAE-backed separatist movement Southern Transitional Council, skipped a flight to Saudi Arabia for negotiations, further adding to the uncertainty surrounding a resolution between the two countries. Back home, Dubai Financial Market unit Dubai Clear and Nasdaq Dubai received Tier 1 Third-Country Central Counterparty recognition by the European Securities and Markets Authority, allowing them to support cross-border activities between Dubai and Europe's capital markets. "This milestone reflects the progress Dubai has made in building market infrastructure that global investors recognise and rely on. ESMA Tier 1 recognition strengthens Nasdaq Dubai's ability to connect regional opportunities with international capital and supports Dubai's Capital Markets Development Strategy by enhancing access, efficiency, and investor confidence," Dubai Financial Market and Nasdaq Dubai Chief Executive Officer Hamed Ali said. On the corporate side, the National Bank of Ras Al-Khaimah (ADX:RAKBANK), d/b/a Rakbank, secured an in-principle approval from the Central Bank of the UAE for the issuance of Emirati dirham-backed stablecoin. Shares of the Abu Dhabi-listed lender closed the session 0.36% higher. Elsewhere, Parkin Co. (DFM:PARKIN) gained 0.50% as it entered into a deal to deploy its smart-parking services at six Spinneys and Waitrose locations in Dubai, which are operated by Spinneys 1961 Holding (DFM:SPINNEYS). The UAE-based grocery retailer ended trading 5.23% in the green.