Dec 22 Reuters Most major stock markets in the Gulf rose in early trade on Thursday, as oil prices extended gains for a fourth session although global economic concerns limited gains.

Saudi Arabia39;s benchmark index edged 0.1 higher, helped by a 0.3 increase in oil giant Saudi Aramco.

Oil prices a key catalyst for the Gulf39;s financial markets climbed for a fourth straight day with U.S. crude, heating oil and jet fuel stocks growing tighter just as a cold snap hits the United States and travel is set to soar for the holiday season.

In Abu Dhabi, the index added 0.1, helped by a 0.6 increase in the country39;s biggest lender First Abu Dhabi Bank.

MSCI39;s broadest index of AsiaPacific shares outside Japan firmed 1.5, after an upbeat reading on U.S. consumers cheered Wall Street investors.

The Qatari index advanced 0.3, on course to extend gains from the previous session, led by a 1.1 rise in petrochemical firm Industries Qatar.

The country, among the world39;s top exporters of liquefied natural gas, approved its 2023 fiscal year budget on Monday with revenue estimated to increase 16.3 next year, its finance minister said, thanks to rising average oil prices.

The budget was based on an oilprice assumption of 65 per barrel, compared with 202239;s assumption of 55.

Dubai39;s main share index eased 0.2, hit by a 1.1 fall in top lender Emirates NBD.

Reporting by Ateeq Shariff in Bengaluru; Editing by Jacqueline Wong

Source Reuters