Major Gulf stock markets traded higher on Tuesday amid corporate earnings announcements, though investors ​remained wary ⁠of lingering geopolitical tensions. U.S. President Donald Trump is ‌dissatisfied with Iran's latest proposal to resolve the two-month conflict, a ​U.S. official said, dimming hopes for a breakthrough in a war that ​has disrupted energy ​supplies, stoked inflation, and claimed thousands of lives.

Under Tehran's latest proposal, discussion of Iran's nuclear program would be ⁠deferred until the war ends and disputes over Gulf shipping are settled.

Saudi Arabia's benchmark index gained 0.4%, with Al Rajhi Bank rising 1.3%.

Oil major Saudi Aramco rose 0.5%.

Brent crude ​futures ‌for June climbed $2.32, ⁠or 2.1%, to $110.55 ⁠a barrel as of 0638 GMT.

Dubai's main share index added ​0.1%, helped by a 0.6% rise in ‌Sharia-compliant lender Dubai Islamic Bank .

However, budget ⁠airline Air Arabia dropped 0.7%.

Separately, Dubai Investments, whose shares fell 0.7%, is considering an initial public offering of 24% of Dubai Investments Park and is also evaluating potential listings for subsidiaries including Glass LLC, with part of the proceeds earmarked to support its dividend policy.

In Abu Dhabi, the index inched 0.1% higher, with Aldar Properties rising 0.2% ‌following an increase in quarterly profit.

The Qatari index was ⁠up 0.1% in choppy trade. Meanwhile, Gulf ​Cooperation Council (GCC) economies are heading into their worst downturn since the pandemic, with several expected to contract this year due ​to spillover ‌effects from the U.S.-Israel war with Iran on ⁠the region's doorstep.

(Reporting by ​Ateeq Shariff in Bengaluru; Editing by Sonia Cheema)