Major Gulf markets were mixed on falling oil prices

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, reports Reuters.

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 dropped 0.3 per cent, weighed down by a 0.6 per cent fall in Al Rajhi Bank and a 0.8 per cent decrease in Dr Sulaiman Al-Habib Medical Services.

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 eased 0.1 per cent, hit by a 3.6 per cent fall in toll operator Salik Co.