Gulf stock markets rose in early trade on Thursday, buoyed by hopes that diplomatic efforts between the United States and Iran could resume after the two sides exchanged recriminations this week. Qatar's prime minister is due to visit Tehran on Thursday in an effort to revive diplomacy after Washington pledged to increase economic pressure on Iran by targeting its trading partners with sanctions. Meanwhile, Iran and Oman are finalizing details of an agreement on control of the Strait of Hormuz, a senior Iranian source said on Wednesday. Iran's Revolutionary Guards said the two countries had agreed on how to share management of the strategic waterway, which links major Gulf oil producers to global markets. Saudi Arabia's benchmark index edged up 0.1%, with most stocks in positive territory. National Industrialization Company climbed 3.6%, while oil giant Saudi Aramco gained 0.5%. Saudi Aramco has offered additional crude for September loading outside the Strait of Hormuz, four sources familiar with the matter said on Wednesday, after the producer sold at least 4 million barrels to China this month. Dubai's main index rose 0.4%, with most constituents advancing. Etihad Energy gained 2.9%, while Emirates Central Cooling Systems added 1.3%. Abu Dhabi's benchmark climbed 0.3%, supported by a 1.3% increase in conglomerate Alpha Dhabi Holding and a 1.2% rise in First Abu Dhabi Bank , the United Arab Emirates' largest lender. Qatar's index gained 0.5%, led by communication and energy shares. Telecoms operator Ooredoo advanced 1.9% and Qatar Gas Transport rose 1%. QatarEnergy has issued a spot tender to sell light and full-range naphtha cargoes on a free-on-board basis from Ras Laffan port, located inside the Strait of Hormuz, traders said. A document reviewed by Reuters on Wednesday confirmed the tender.
