Most Gulf markets gain

DUBAI: Most Gulf stock markets closed higher on Wednesday as investors weighed an interim US-Iran peace deal.

Some details of the accord emerged on Tuesday, with President Donald Trump saying the arrangement would prevent Tehran from acquiring a nuclear weapon. A US official indicated that Iran would be permitted to resume oil sales once the deal is signed on Friday.

Saudi Arabia’s benchmark index edged 0.3 percent lower, weighed down by a 0.4 percent drop in Al Rajhi Bank and a 0.6 percent decrease in oil major Saudi Aramco.

Separately, the kingdom’s new airline, Riyadh Air, won the right to operate flights to and from the United States, the US Transportation Department said in an order Tuesday.