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Major Gulf stock markets were mixed in early trading on Thursday, as investors weighed growing optimism over a possible deal to end the Iran war, with sentiment supported by rising U.S. pressure on Tehran ahead of further talks.
U.S. President Donald Trump said the war launched with Israel in late February was nearly over, even as the shipping blockade he announced came into effect and traffic through the Strait of Hormuz remained sharply below normal.
Washington, meanwhile, warned it could impose secondary sanctions on buyers of Iranian oil ahead of further negotiations, just weeks after loosening enforcement of some Iran energy sanctions.
U.S. and Iranian officials were considering returning to Pakistan for further talks as early as this weekend, after negotiations on Sunday ended without a breakthrough. Pakistan's army chief arrived in Tehran on Wednesday as part of a mediation effort to keep the conflict from reigniting.
Dubai's main share index advanced 1.4%, led by a 2.1% rise in blue-chip developer Emaar Properties and a 2.1% increase in Tecom Group.
Budget airline Air Arabia reversed early losses to trade 1.2% higher.
In Abu Dhabi, the index added 0.3%.
Saudi Arabia's benchmark index fell 0.2%, with Saudi National Bank - the country's biggest lender by assets - losing 2.1% while oil major Saudi Aramco was down 0.3%.
Brent crude futures were little changed at $94.67 a barrel on scepticism that U.S.-Iran peace talks would end the disruption of traffic through the critical Strait of Hormuz.
Separately, the kingdom's $925 billion sovereign wealth fund will channel its investments into the domestic economy through six key priorities under a new five-year strategy, as it steps up efforts to reduce the kingdom's dependence on oil, according to the fund's governor.
The Qatari index eased 0.1% in a choppy session, hit by a 0.7% fall in petrochemical maker Industries Qatar .
Qatar - the world's second largest LNG exporter - may extend its force majeure on gas supplies beyond mid-June, Edison said, though the Italian importer expects lost volumes to be replaced by U.S. LNG rather than Russian gas.
QatarEnergy cancelled 10 cargoes for Edison between April and mid-June after the war disrupted supplies. Iran's attacks knocked out 17% of QatarEnergy's LNG export capacity last month, its CEO said.
(Reporting by Ateeq Shariff in Bengaluru; Editing by Joe Bavier)





















