Arab governments emphasized this week that that the root issue underlying the violence — the decades-old Israeli-Palestinian conflict — must be resolved.

Stock markets in the Gulf rose in early trade on Thursday, extending gains from the previous sessions amid rising oil prices as a ceasefire between Israel and Iran appeared to be holding.

The fragile ceasefire between Israel and Iran appeared to be holding Wednesday after a rocky start, giving rise to cautious hope it could lead to a longer term peace agreement, even as Tehran insisted it would not give up its nuclear program.

The S&P 500 Index is on track to close at an all-time high on Thursday as tariff and geopolitical concerns dissipate — capping a stunning recovery that has added almost $10 trillion to US stocks which were on the cusp of a bear market just two months ago.

The benchmark S&P 500 hovered close to an all-time high on Wednesday as an Israel-Iran ceasefire appeared to be holding and investors watched Federal Reserve Chair Jerome Powell's congressional testimony for hints on the monetary policy path.

Oil prices climbed slightly on Thursday, supported by a larger-than-expected drop in U.S. crude inventories, signaling strong demand, while investors remained cautious over the fragile Iran-Israel ceasefire and