Stock markets in the United Arab Emirates rose on Tuesday, in line with ​oil prices, after U.S. President Donald ‌Trump postponed strikes on Iran’s energy infrastructure.

On Monday, Trump postponed the bombing of the Islamic Republic’s power ​plants and energy infrastructure because of ​what he described as productive talks ⁠with Iranian officials.

Iran later denied that ​it had engaged in negotiations with the ​United States.

“The stop on attacks for five days is only on their energy sites,” a US official ​told Semafor.

The Semafor report added that ​Israel was not party to Washington’s talks with Tehran.

Dubai’s ‌main ⁠index climbed 4% in early trade, lifted by a 5.3% jump in its blue-chip developer Emaar Properties and a 4.5% rise ​in state-run ​utility firm ⁠Dubai Electricity and Water Authority.

Abu Dhabi’s benchmark index gained 1.2% in ​early trade, with utility firm ​Abu ⁠Dhabi National Energy (TAQA) advancing 5.1%, while real estate giant Aldar Properties increased 3.2%.

Oil prices - a key catalyst ⁠for ​the Gulf’s financial markets - were ​up 2.77 % at $102.66 a barrel.