Major Gulf markets track Asian shares higher

Major stock markets in the Gulf rose in early trade on Tuesday as Asian shares rebounded and oil prices steadied, although investors remain wary on tensions in the region, reports Reuters.
US President Joe Biden will visit Israel on Wednesday as the country prepares to escalate an offensive against Hamas militants that has set off a humanitarian crisis in Gaza and raised fears of a broader conflict with Iran.
Saudi Arabia's benchmark index gained 1.1 per cent, with Al Rajhi Bank advancing 2.3 per cent and oil giant Saudi Aramco adding 0.3 per cent.
Oil prices - a catalyst for the Gulf's financial markets - steadied after a more than $1 slide on Monday amid hopes the US would ease sanctions on producer Venezuela, and as Washington stepped up efforts to prevent an escalation of the war between Israel and Hamas.