Mideast Stocks-Most Gulf markets rise as oil gains amid Iran war jitters

Saudi Arabia's benchmark index .TASI rose 0.2%, led by gains in materials and utilities stocks. Saudi Arabian Mining Co 1211.SE climbed 3.4% and ACWA Power 2082.SE advanced 1.4%.

Qatar's benchmark index .QSI fell 0.3%, with most constituents trading lower. Qatar Islamic Bank QISB.QA lost 1%, while Qatar Navigation QNNC.QA declined 1.9%.

U.S. President Donald Trump on Wednesday warned of economic consequences against any country that provided "any type of lifeline to Iran" as the United States looks to resolve a war it began alongside Israel nearly six months ago.

Shipping traffic through the Strait of Hormuz on Wednesday was unchanged from the previous day, according to the latest shipping data.

The UAE said on Tuesday it would suspend all trade activity, commercial exchanges and financial transactions with Iran until further notice.

The move came after the UAE defence ministry said it had detected two missiles launched from Iran that fell into the sea. Tehran dismissed the allegation that it had launched the missiles as baseless.

Dubai's benchmark index .DFMGI rebounded 0.4% as most sectors advanced.

Dubai Islamic Bank DISB.DU gained 0.8%, while Emirates Central Cooling Systems EMPOWER.DU added 1.3%.

Abu Dhabi's benchmark index .FTFADGI edged up 0.1%, supported by gains in basic materials, healthcare and real estate stocks.

Petrochemicals company Borouge BOROUGE.AD rose 0.8%, while blue-chip developer Aldar Properties ALDAR.AD added 0.5%.