Most major stock markets rose in early trade on Monday, with Abu Dhabi index leading the gains, although Qatar traded lower.
Saudi Arabia's benchmark index rose 0.2%, with Al Rajhi Bank gaining 0.2%, while Saudi Arabian Mining Company advanced 1.2%.
Saudi Arabia increased the price of its Arab light crude for the Asian market by $0.4/barrel in May, compared to April, and lowered those for the U.S. and European markets by $0.1/barrel and $0.2/barrel respectively, according to a statement from oil producer Saudi Aramco.
Aramco was down 0.4%.
Dubai's main share index gained 0.5%, led by a 1.3% rise in sharia-compliant lender Dubai Islamic Bank and 2.3% increase in logistic firm Aramex.
The United Arab Emirates will invest $3 billion in Iraq, it said in a joint statement at the end of Iraqi Prime Minister Mustafa al-Kadhimi's visit to UAE, state news agency WAM reported.
In Ab Dhabi, the index rose 0.7%, boosted by a 6.9% jump in International Holding.
The firm has gone through rapid expansion across its major business sectors, resulting in a sharp growth in its financials, positioning it for long-term growth.
International Holding is on track to gain for a 10th consecutive session.
The Qatari index, however, fell 0.3%, hit by a 1% fall in Qatar Islamic Bank and 0.4% decrease in Qatar National Bank, the Gulf's largest lender.
Last month, Qatar tightened COVID-19 restrictions ordering the closure of leisure centres, gyms and swimming pools and for shopping malls to operate at a reduced capacity of 30%, while cinemas would run at 20% capacity.
(Reporting by Ateeq Shariff in Bengaluru; Editing by Alison Williams) ((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))
