Most stock markets in the Middle East closed higher on Tuesday, buoyed by gains in Brent oil prices and Asian, as optimism about the easing of coronavirus-related restrictions reassured markets.

Brent crude rose 41 cents, or 2%, to $20.40 a barrel at 1006 GMT, following a 6.8% slide on Monday.

Saudi Arabia's benchmark index gained 0.8%, with Al Rajhi Bank rising and Saudi British Bank gaining 5.3%.

But Petrorabigh 2380.SE dropped 2.5% after it posted a net loss of 1.80 billion riyals ($478.85 million) in the first quarter, doqn from profit of 257 million riyals a year earlier.

Saudi Arabia's King Salman issued an order allowing the opening of some economic and commercial activities, which includes wholesale and retail shops in addition to malls, from April 29 to May 13, state news agency (SPA) reported on Sunday. 

The order also limited the curfew across the kingdom to 9 a.m. to 5 p.m. until May 13, while keeping a 24-hour curfew in Mecca and in previously isolated neighbourhoods.

The Abu Dhabi index reversed earlier losses to close up 1.2%. First Abu Dhabi Bank (FAB), which retreated 3.6% during the session, ended 1.6% higher.

The largest lender in the United Arab Emirates reported a 22% drop in quarterly profit on Monday, hit by interest rate cuts and impairment charges.

Its net profit in the first quarter was 2.4 billion dirhams ($653.42 million) versus 3.1 billion dirhams a year earlier.

Dubai's main share index rose 0.6%, with blue-chip developer Emaar Properties rising 2.3% and its unit Emaar Malls up 3.3%.

The Qatari index gained 0.8%, helped by a 4.2% leap in Qatar Gas Transport Company and a 0.2% gain in Mesaieed Petrochemical despite a steep fall in first-quarter net profit.

Outside the Gulf, Egypt's blue-chip index rose 0.4%, supported by a 0.5% rise in Commercial International Bank.

($1 = 3.7590 riyals)

(Reporting by Ateeq Shariff in Bengaluru, editing by Larry King) ((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))