Major Gulf markets were mixed on falling oil prices | Reuters

Major Gulf markets were mixed on falling oil prices | Reuters

Major stock markets in the Gulf were mixed in early trade on Tuesday amid falling oil prices, with the Dubai index on course to snap three sessions of gains.

Prices of oil, a catalyst for the Gulf's financial markets, edged lower as the market waited to see if Iraqi exports through the Ceyhan oil terminal would resume, which could ease supply tightness caused by the OPEC+ cut, while a faltering Chinese economy weighed on demand outlook.

Iraq's oil minister Hayan Abdel-Ghani arrived in the Turkish capital Ankara to discuss several issues including the resumption of oil exports through the Ceyhan oil terminal, a source in the minister's office told Reuters on Monday.

Saudi Arabia's benchmark index (.TASI) dropped 0.3%, weighed down by a 0.6% fall in Al Rajhi Bank (1120.SE) and a 0.8% decrease in Dr Sulaiman Al-Habib Medical Services (4013.SE).

China's crude oil imports from top exporter Saudi Arabia are expected to remain depressed through the third quarter, analysts said, after its customs office reported inbound shipments from the kingdom fell to their lowest in 13 months in July.

Dubai's main share index (.DFMGI) eased 0.1%, hit by a 3.6% fall in toll operator Salik Co (SALIK.DU).

Separately, Dubai's main airport reported a 49% surge in passenger traffic in the first half of the year to 41.6 million, surpassing pre-pandemic levels, operator Dubai Airports said on Tuesday.

In Abu Dhabi, the index (.FTFADGI) added 0.2%.

The Qatari benchmark (.QSI) gained 0.4%, led by a 0.4% increase in Qatar Islamic Bank (QISB.QA).