Gulf bourses mixed ahead of earnings, weak oil and US-Iran tensions 

Major Gulf stock markets were mixed in early trading on Tuesday as investors looked for cues from upcoming corporate earnings, softer oil prices and renewed tensions between the U.S. and Iran.

President Donald Trump said on Monday the United States would either strike a deal with Iran or "finish the job," reviving the prospect of military action as Tehran struck a defiant tone after the funeral of former Supreme Leader Ayatollah Ali Khamenei.

On Monday night, Iran's Revolutionary Guards fired at least two missiles at commercial ships transiting the Strait of Hormuz, Axios reported, citing two U.S. officials. The commercial ships suffered significant damage but had no casualties, the report said.

Saudi Arabia's benchmark index TADAWUL:TASI dipped 0.2%, hit by a 1.7% slide in Saudi Arabian Mining Company TADAWUL:1211.

On Monday, the world's top oil exporter lowered the August official selling price of its flagship Arab Light crude to Asia by $11 a barrel, setting it at a discount of $1.50 to the average of Oman and Dubai prices. Prices for the kingdom's four other grades were also reduced by $11 a barrel.

However, oil giant Saudi Aramco TADAWUL:2222 added 0.2%.

Oil traders said that not only did other Gulf suppliers also cut prices to attract demand, but the sanctions waiver on Iran crude sales added to the competition for sellers.

They also said lifting crude from inside the Gulf still carried a risk given the shaky truce between the U.S. and Iran, reducing the incentive to buy.

Brent crude futures ICEEUR:BRN1! gained 85 cents, or 1.2%, to $72.84 a barrel, after settling down at around pre-Iran war levels on Monday.

In Abu Dhabi, the index ADX:FADGI edged 0.1% higher.

Dubai's main share index DFM:DFMGI was up 0.1%, helped by a 1.4% gain in Emirates Integrated Telecommunications Company (du) DFM:DU.

The company launched du Ventures, a $50 million venture capital fund managed by Shorooq, to invest in promising startups and emerging technologies, with a significant focus on UAE-based ventures.

Elsewhere, the Qatari index QSE:GNRI dropped 0.4%, with Qatar Islamic Bank QSE:QIBK losing 1%.

QatarEnergy is seeking to buy its first jet fuel cargo since the U.S.-Iran war started, with the delivery set in August, according to a document reviewed by Reuters on Tuesday.