Major Gulf stock markets fell in early Thursday trade as the fragile regional truce appeared ​to be under strain, ⁠spooking investors and reviving concerns over prolonged geopolitical and inflationary risks.

The ‌ceasefire's durability was cast into doubt on Wednesday as Israel continued strikes on ​Lebanon, with Iran saying it would be "unreasonable" to pursue talks on a lasting peace ​deal.

Israel and ​the United States both said the two-week ceasefire did not cover Lebanon, and Israeli Prime Minister Benjamin Netanyahu said the strikes would ⁠continue.

Iran also targeted oil infrastructure in neighbouring Gulf states, including a Saudi pipeline used as an alternative route to the blockaded Strait of Hormuz, an oil industry source said. Kuwait, Bahrain and the UAE likewise ​reported missile ‌and drone strikes.

Saudi Arabia's ⁠benchmark index ⁠eased 0.2%, hit by a 0.5% fall in the country's biggest lender Saudi National ​Bank. However, Saudi Aramco added 0.2%. The oil ‌giant had an edge over regional peers by ⁠rerouting exports.

Reuters analysis showed the Kingdom benefited from higher oil prices with estimated March oil revenues up from a year earlier, while countries without alternative routes lost billions.

Brent crude futures were up $2.18, or 2.3%, at $96.93 a barrel at 0645 GMT.

Dubai's main share index dropped 1.3%, a day after gaining more than 6%, weighed down by a 2.3% slide in blue-chip developer Emaar Properties and a 1.6% decrease in ‌top lender Emirates NBD.

In Abu Dhabi, the index fell ⁠0.4%, with Aldar Properties losing 1.6%. The UAE will seek clarity ​on the terms of the two-week U.S.-Iran ceasefire to ensure Tehran fully commits to halting regional attacks and unconditionally reopening the Strait of Hormuz, ​a Foreign Ministry ‌spokesperson said on X.

The Qatari index was down ⁠0.5%, with petrochemical maker Industries Qatar retreating ​1.6%.

(Reporting by Ateeq Shariff in Bengaluru Editing by Keith Weir)