March 5 (Reuters) - Most Gulf stock markets closed higher on Thursday, but the UAE exchanges continued losses from the previous session when trading resumed after a two-day closure due to Iran's missile and drone attack on the UAE earlier in the week.

After trading resumed, the Dubai and Abu Dhabi stock exchanges temporarily set a minimum limit for the decline in securities prices at five percent.

Israel launched a major wave of strikes on Tehran on Thursday, saying it targeted Iranian government infrastructure, after Iran fired a barrage of missiles at Israel earlier in the day, sending millions of residents scrambling for shelter.

Dubai's main index closed down 1.3 percent after falling 4.2 percent earlier in the session, with shares of both Emirates NBD and Emaar Properties down 4.9 percent.

Shares of low-cost carrier Air Arabia fell 4.9 percent, but shares of Dubai Electricity and Water Authority (DEWA) rose 5.3 percent.

Milad Azar, an analyst at XTB Middle East and North Africa, said that although the market may remain highly sensitive to developments in the region, Dubai’s key fundamentals are strong and could support a recovery.

The Abu Dhabi index fell 2.2 percent, with First Abu Dhabi Bank shares dropping 1.2 percent and Aldar Properties shares declining 5 percent. Abu Dhabi Commercial Bank shares fell 4.7 percent.

The Saudi benchmark index closed 0.8 percent higher today, with Al Rajhi Bank shares rising 1.7 percent.

The Saudi index recorded weekly gains of 0.6 percent.

Shares of Al Moammar Information Systems rose 10 percent to their daily limit after the company struck a deal with AI firm Humine to design and build a data center.

Shares of ACWA Power and Dallah Healthcare rose 3.5 percent and 6.1 percent respectively, after their annual net profits increased.

The Saudi market's recovery was bolstered by rising oil prices following the initial shock from recent geopolitical tensions. Azar said stocks appear poised to capitalize on the rebound, supported by expectations of higher energy prices as disruptions persist in the Strait of Hormuz, a vital energy transit route.

Oil prices rose by more than three percent, continuing gains amid growing fears that the war could lead to prolonged disruptions to oil and gas supplies in the Middle East.

However, shares of oil giant Saudi Aramco fell 0.7 percent.

Qatar's benchmark index rose 1 percent, with shares of Qatar National Bank, the Gulf's largest bank by assets, climbing 3.2 percent.

Gains remained limited as shares of Qatar Petrochemical Industries fell 2.5 percent and Qatar Aluminum fell seven percent.

Qatar, the largest producer of liquefied natural gas in the Gulf region, declared force majeure on gas exports on Wednesday, and sources said a return to normal production levels could take at least a month.

The index in Oman and the index in Kuwait both rose 1.3 percent, while the index in Bahrain fell 1.1 percent.

Outside the Gulf region, Egypt's blue-chip index rose 2.3 percent, ending a four-day losing streak, with Commercial International Bank shares climbing 3.7 percent.

However, the Egyptian index recorded a weekly decline of 3.5 percent, its biggest drop since June.