Gulf markets decline with falling oil prices and anticipation of U.S. data.

Gulf markets decline with falling oil prices and anticipation of U.S. data.

Most Gulf stock markets closed lower on Tuesday, affected by falling oil prices and investors' caution ahead of the release of U.S. economic data and expectations of statements from Federal Reserve officials. Oil shares, the main driver of Gulf markets, saw a slight recovery after a decline of about 5% over the past two sessions, as investors assessed OPEC's review that lowered global demand forecasts and the disappointment from China's economic stimulus plans.

Performance of Gulf stock indices

Saudi Arabia: The index fell by 0.5%, affected by a 1.4% drop in the "Al-Tayseer Group" share and a 1.1% decline in "Al Rajhi Bank," while the energy index decreased by 0.1%.

Qatar: The index fell by 1.4% due to the decline of the "Qatar National Bank" share by 2.3% and "Industries Qatar" by 3.3%.

Dubai: The index rose by 1.1% thanks to the increase in Salik's share by 3.7% and Emaar Development's share by 10.3%, following the announcement of net profit growth.

Abu Dhabi: The index fell by 0.2%.

Anticipation of U.S. inflation data

Investors are awaiting additional signals from upcoming U.S. inflation data and statements from Federal officials this week, amid expectations of a U.S. interest rate cut in December.