Iran War Threatens Gulf Economies: Worst Slump Since 1990s Looms

• The Iran war threatens the Gulf's biggest economies, including Saudi Arabia, UAE, and Qatar, with the worst slump since the early 1990s.
• Goldman Sachs forecasts Qatar and Kuwait GDP contraction by 14% if the Strait of Hormuz is halted for two months.
• Saudi Arabia and UAE GDP could drop by 3% and 5% respectively, marking the biggest economic hit since the 2020 pandemic.
• US warns Iran of targeting energy facilities if Hormuz traffic is disrupted; Brent crude topped $103 amid the halt.
• Saudi Arabia may fare best through a prolonged war due to resilience, potentially posting a smaller 2026 fiscal deficit.