Stock markets in the Gulf region jumped on Wednesday in line with global equities after US President Donald Trump agreed to a two-week ceasefire with Iran on Tuesday.
Trump said the last-minute deal was subject to Iran's agreement to pause its blockade of oil and gas supplies through the Strait of Hormuz, which before the war typically handled about one-fifth of global oil and liquefied natural gas shipments.
Iranian Foreign Minister Abbas Araqchi said Tehran would cease counter-attacks and provide safe passage through the waterway if attacks against it stopped.
Pakistani Prime Minister Shehbaz Sharif said he had invited Iranian and US delegations to meet in Islamabad on Friday.
Saudi Arabia's benchmark index opened 1.4% higher, lifted by gains in banking and energy stocks.
Oil giant Saudi Aramco gained 2.1%, while largest lender Al Rajhi Bank added 2.4%.
Dubai's main market spiked as much as 8.5%, its highest intraday gain in more than 11 years, with the heavyweight real estate and financial sectors outperforming.
At 0730 GMT the Dubai index was trading 6.4% higher, led by a 9.8% jump in blue-chip developer Emaar Properties and an 11.3% rise in top lender Emirates NBD Bank.
Abu Dhabi's benchmark index climbed as much as 4.9% in early trade, its biggest jump in six years, boosted by gains in the financial, real estate, logistics and energy sectors.
At 0730 GMT the Abu Dhabi index was up 3.2% with the largest lender, First Abu Dhabi Bank, rising 8.3% and real estate giant Aldar Properties jumping 8.8%.
Energy firm Adnoc Gas gained 3.8%, while Abu Dhabi Ports Company advanced 9.8%.
In Qatar, the index jumped 3.4%, as all its constituents advanced, led by energy shares.
Petrochemical maker Industries Qatar jumped 6.2% and Qatar Gas Transport surged 8%, the top gainer.
The Gulf's biggest lender, Qatar National Bank, climbed 3.7%.
