June 15 (Reuters) - Major stock markets in the Gulf region closed higher on Monday after the United States and Iran announced a preliminary agreement to end the war and resume shipping traffic in the Strait of Hormuz.

Pakistan's prime minister said the two countries are expected to sign a memorandum of understanding in Switzerland on Friday following mediation efforts by Islamabad.

Trump said on Sunday that the sea lane would be reopened "without fees" and that the US blockade on Iranian ports would be lifted, while Iran's Mehr news agency reported that the draft agreement envisioned its reopening within 30 days under Iranian arrangements.

The index in Qatar rose 0.9 percent, driven by a three percent jump in shares of Qatar National Bank.

The Saudi index gave up its early gains to close down 0.1 percent, with Aramco shares falling 1.1 percent.

Brent crude futures fell $4.47, or 5.1 percent, to $82.86 a barrel by 12:34 GMT.

The index rose 0.4 percent in Bahrain, but the index in Oman fell 0.7 percent and the index in Kuwait dropped 0.3 percent.

Outside the Gulf region, Egypt's blue-chip index rose 0.6 percent.

The European Commission announced that it and the European Investment Bank are set to approve a €690 million ($801 million) financing plan to help Egypt modernize its electricity grid.

The UAE markets are closed for a public holiday.