(Adds stocks movement of Saudi and Qatari markets)
March 24 (Reuters) - Gulf stock markets struggled for
direction in early trading on Tuesday, with Qatar extending fall
amid mixed messages on U.S.-Iran talks after President Donald
Trump delayed strikes on Iran's energy infrastructure.
Trump's decision on Monday was because of what he described
as productive talks with Iranian officials. Iran, however,
denied that it had engaged in negotiations with the U.S..
The U.S. will continue its strikes on Iran, with the pause
applying only to attacks on Tehran's energy sites, Semafor
reported on Monday, citing a U.S. official.
The report said Israel was not party to Washington's talks
with Tehran.
The ongoing regional conflict has driven sharp increases in
energy prices, disrupted air travel, and severely impacted
shipping operations through the Strait of Hormuz.
Dubai's main index pared early gains to trade 2.5%
up, supported by gains in heavyweight real estate and
communication services stocks.
Dubai's blue-chip developer Emaar Properties
climbs 4.4% and telecom operator Emirates Integrated
Telecommunications jumps 3.7%.
In Abu Dhabi, the index also trimmed its initial
gains to trade 0.5% up, with utility firm Abu Dhabi National
Energy advancing 5.1%, while Emirates
Telecommunications Group increasing 2.7%.
However, Saudi Arabia's benchmark index slipped 0.4%
in early trade, dragged down by a 3.8% decline in Saudi Arabian
Mining Company (Ma'aden) and 1.7% drop in oil behemoth
Saudi Aramco.
Saudi oil and gas drilling services provider Ades Holding
gained 3.9% after the firm increased its FY2026 EBITDA
guidance range to SAR 4.50-4.87 billion, a 33% to 44% hike from
last year.
Qatar's share index tumbled 1.1%, extending losses
from previous session on March 18, led by a heavy fall in
financial and energy stocks.
Gulf's largest lender Qatar National Bank dipped
1.6%, while energy shipper Qatar Gas Transport (Nakilat)
slumped 3.4%.
With the war raging and shipments of about one-fifth of the
world's oil and liquefied natural gas through the Strait of
Hormuz still curtailed, oil prices resumed their climb on
Tuesday.
Brent Crude was up 1.4 % at $101.28 a barrel by 0812
GMT.