Most Gulf markets edge up as oil prices recover | Reuters

Most Gulf markets edge up as oil prices recover | Reuters

Most stock markets in the Gulf edged up on Tuesday as benchmark oil prices, the key catalyst for the region's financial markets, recovered from early losses.

Brent crude futures , which had fallen earlier by $1 a barrel, rebounded to $86.29 a barrel by 0737 GMT.

Saudi Arabia's benchmark index (.TASI) rose 0.5%, extending gains to a third session in a row, supported by a 0.5% rise in Sulaiman Al-Habib Medical Services (4013.SE) shares and as luxury real estate developer Retal Urban Development Co (4322.SE) edged up 0.3%.

Among other stocks, Etihad Atheeb Telecom (7040.SE) gained for a second day after it signed a more than 105-million-riyal ($27.9 million) contract with Saudi Arabia's Najran and Tabuk provinces on Sunday.

The benchmark index (.QSI) in Qatar - among the world's top exporters of liquefied natural gas - gained 0.4%, led by a 2% gain in Industries Qatar (IQCD.QA) while its sharia lender Qatar Islamic Bank (QISB.QA) was up 1.7%.

In Abu Dhabi, the index (.FTFADGI) also advanced 0.4%, extending gains from the previous session, as United Arab Emirates' largest lender First Abu Dhabi Bank (FAB.AD) rose 0.5%.

Dubai's main share index (.DFMGI), however, eased 0.2%, following a 0.7% decline in sharia-compliant lender Dubai Islamic Bank (DISB.DU) and a 1.4% slump in Emirates Central Cooling Systems Corporation (EMPOWER.DU).