Most Gulf Markets settle higher as investors weigh U.S.-China trade truce

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Most stock markets in the Gulf settled higher on Tuesday, although gains were limited as investors paused to weigh whether a temporary pause in the U.S.- China trade war would lead to a long-lasting agreement.Brent crude futures rose about 1%, to $65.61 a barrel by 1209 GMT, but gains were capped by pressure of increasing supplies.Meanwhile, sources told Reuters that Saudi Arabia's crude oil supply to China will hold steady in June after hitting its highest in more than a year in the previous month after an OPEC+ decision to increase output.Around the world, a rally in stocks lost steam on Tuesday, as initial cheer over a trade agreement between the U.S. and China was replaced by caution about its impact on the global economy.On Tuesday, U.S. President Donald Trump kicked off his Middle East trip by visiting Saudi Arabia first, hoping to secure trillions of dollars of investments from Gulf oil producers.Saudi Arabia's benchmark stock index TADAWUL:TASI settled up 0.38%, boosted by a 9.85% rise in Saudi Arabian Refineries TADAWUL:2030. The refiner logged a quarterly profit after markets closed on Monday.Dubai's main share index DFM:DFMGI closed up 0.54%, with the country's food ordering business Talabat Holdings DFM:TALABAT leading gains on the index and settled up 3.6%. Shares of Sharia compliant lender Dubai Islamic Bank DFM:DIB also closed up 3%Bucking the trend, the Qatari index QSE:GNRI fell 0.22%, dragged lower by a 1.73% drop in Vodafone Qatar QSE:VFQS. Outside the Gulf, Egypt's blue-chip index EGX:EGX30 settled up 0.37%. Engineering and construction contractor Orascom Development Egypt EGX:ORHD was the top gainer, rising 3.5% after it named a new Chairman and CEO.SAUDI ARABIATADAWUL:TASI up 0.38% to 11,532.27ABU DHABIADX:FADGI down 0.08% to 9,631.48DUBAIDFM:DFMGI up 0.54% to 5,362.68QATARQSE:GNRI fell 0.22% to 10,585.58EGYPTEGX:EGX30 up 0.37% to 31,692.77 BAHRAINBAHRAIN:BHBX inched up 0.1% to 1,918.306OMAN(.MSX30) fell 0.35% 4,361.328KUWAIT(.BKP) rose 0.25% at 8,750.93

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