Major Gulf markets mixed ahead of US inflation data --

Major stock markets in the Gulf were mixed in early trade on Thursday ahead of a US inflation report that will likely influence the Federal Reserve's policy path, reports Reuters.

The market is awaiting July Consumer Price Index (CPI) from the United States, due on Thursday, which should provide a steer on the Federal Reserve's future monetary policy.

Most Gulf Cooperation Council countries, including the UAE, Saudi Arabia and Qatar, have their currencies pegged to the US dollar and generally follow the Fed's policy moves, exposing the region to a direct impact from any monetary policy move there.

Saudi Arabia's benchmark index gained 0.7 per cent, on course to extend gains from the previous session, led by a 1.1 per cent rise in oil giant Saudi Aramco.

Among other gainers, Raydan Food Co advanced more than 5 per cent to become the top gainer on the index, after it swung to quarterly profit.

In Qatar, the index added 0.2 per cent, helped by a 1 per cent gain in petrochemical maker Industries Qatar.

Oil - which fuels the Gulf economy - recouped early marginal losses on Thursday, climbing to multi-month peaks as the market weighed supply tightness concerns with fuel demand worries ahead of key US inflation data.