Most stock markets in the Gulf climbed in ​early trading ⁠on Monday as fading geopolitical risks—buoyed ‌by hopes of a U.S.-Iran peace deal—boosted ​investor appetite. 

U.S. President Donald Trump announced that Washington ​and Tehran have "largely negotiated" ​an agreement to end their three-month war and reopen the critical ⁠Strait of Hormuz, which had carried a fifth of global shipments of oil and liquefied natural gas before the ​conflict.

However, ‌the two ⁠sides remain ⁠at odds on several issues, with Trump saying ​on Sunday he had ‌told his representatives ⁠not to rush into any deal with Iran.

Dubai's main share index advanced 2.4%, with blue-chip developer Emaar Properties rising 3.3% and top lender Emirates NBD increasing 2.8%.

In Abu Dhabi, the index rose 0.9%, led by a 1.5% gain in Aldar ‌Properties .

The Qatari index declined 0.6%, following ⁠a gain of more than ​3% in the previous session.

Brent crude futures were down $5.09, or 4.9%, ​to $98.45 a ‌barrel at 0705 GMT.

(Reporting ⁠by Ateeq Shariff ​in Bengaluru Editing by Bernadette Baum)