MIDEAST STOCKS-Gulf stocks gain on report Trump weighing end to Iran war

March 31 (Reuters) - Most Gulf markets inched higher in early trading on Tuesday as investors weighed the possibility of U.S. President Donald Trump ending the Iran war.

Trump is ready to end the Iran campaign even if the Strait of Hormuz remains largely closed, the Wall Street Journal reported, after the president warned earlier he would "obliterate" Iran's energy infrastructure if Tehran kept the waterway shut.

Saudi Arabia's benchmark index .TASI gained 0.6%, with Al Rajhi Bank 1120.SE rising 1.2% and Saudi Arabian Mining Co 1211.SE advancing 1.7%.

Elsewhere, oil major Saudi Aramco 2222.SE added 0.3%.

Saudi Arabia has rerouted its Gulf crude exports from the Strait of Hormuz, with some 4.658 million barrels per day sent to the Red Sea port of Yanbu, Kpler data showed, a sharp rise from an average of 770,000 bpd in January and February.

In Qatar, the index .QSI rose 0.9%, led by a 2.5% rise in the Gulf's biggest lender Qatar National Bank QNBK.QA and a 2% increase in Qatar Gas Transport QGTS.QA.

The Abu Dhabi index .FTFADGI edged up 0.1%.

Dubai's main share index .DFMGI gave up early gains to trade 0.6% lower, with top lender Emirates NBD ENBD.DU declining 0.7%.

A fully laden crude oil tanker off Dubai was attacked and set ablaze by Iran early on Tuesday, following Trump's warning that the U.S. would obliterate Iran's energy infrastructure if the Strait of Hormuz remained closed.

The Dubai's stock index is heading for its worst monthly loss since March 2020, during the pandemic.