April 28 (Reuters) - Gulf stock markets rose on Tuesday amid a number of company earnings announcements, although investors remained cautious over geopolitical tensions.

A U.S. official said President Donald Trump was unhappy with the latest Iranian proposal to resolve the two-month-old conflict, dashing hopes for a breakthrough in a war that has disrupted energy supplies, exacerbated inflation, and killed thousands.

The latest Iranian proposal calls for postponing discussions on the Iranian nuclear program until the war ends and disputes related to shipping in the Gulf region are resolved.

Saudi Arabia’s main index rose 0.4 percent, supported by a 1.3 percent increase in Al Rajhi Bank shares.

Shares in oil giant Saudi Aramco rose 0.5 percent.

Brent crude futures for June delivery rose $2.32, or 2.1 percent, to $110.55 a barrel by 0638 GMT.

In Dubai, the main index rose 0.1 percent, supported by a 0.6 percent increase in Dubai Islamic Bank shares.

But shares of low-cost carrier Air Arabia fell 0.7 percent.

Separately, Dubai Investments, whose shares fell 0.7 percent, is considering an initial public offering of 24 percent of Dubai Investments Park shares and is also assessing the possibility of listing its subsidiaries, including Emirates Glass, with a portion of the proceeds allocated to support its dividend policy.

Abu Dhabi's main index rose 0.1 percent, with Aldar Properties shares advancing 0.2 percent following an increase in quarterly profits.

Qatar's main index rose 0.1 percent in volatile trading.

Meanwhile, the economies of the Gulf Cooperation Council (GCC) countries are heading towards their worst performance since the COVID-19 pandemic, with several of them expected to contract this year due to the repercussions of the US-Israeli war against Iran on the region.