Most Gulf markets rose on Thursday, tracking higher oil prices, as investors shifted focus to supply woes that could arise due to a potential European Union (EU) ban on Russian oil.

Fear over diminished supply from Libya lingered after the OPEC member said the country was losing more than 550,000 barrels per day of oil output due to blockades at major fields and export terminal.

The EU is still weighing a ban on Russian oil for its invasion of Ukraine, which Moscow calls a "special military operation", and analysts expect the oil market to be volatile.

Dubai's main share index rose for a third consecutive session, gaining 1% as real estate and financial stocks continued to boost markets.

Amlak Finance was the top gainer for a second session, rising 10.4%, a day after the company's shareholders approved continuity of operations.

Emirates NBD rose 1% after Dubai's biggest lender posted a jump of 18% in its quarterly net profit.

Abu Dhabi's index advanced 0.5%, while the Qatari index was nearly flat.

Shares of Baladna Companies fell 3.3% after the company began trading ex-dividend.

Saudi Arabia's benchmark index was flat as investors took a breather after recent sessions of gains.

The index has risen 4.4% so far this month, ending higher in 12 out of the 15 sessions.

Alkhorayef Water And Power Technologies jumped 3.6% after the company signed a contract with the Ministry of Environment worth 1.86 billion riyals ($495.97 mln).

Shares of Saudi Home Loans rose 4.4% on their second day of trading on the exchange.

($1 = 3.7502 riyals)

(Reporting by Tanvi Mehta in Bengaluru; editing by Uttaresh. V)