June 12 Reuters Most stock markets in the Gulf fell in early trade on Monday, tracking oil prices lower ahead of a U.S. Federal Reserve meeting as investors tried to gauge the central bank39;s appetite for further rate hikes.

Markets are pricing in a 71 probability the U.S. central bank will stand pat when it meets on June 1314, according to the CME FedWatch tool.

Most Gulf currencies are pegged to the dollar and any monetary policy change in the United States is usually mimicked by Saudi Arabia, the United Arab Emirates and Qatar.

In Qatar, the benchmark index fell 0.1, with Qatar Gas Transport Nakilat losing 1.8 and Ahli Bank trading 1 lower.

Dubai39;s benchmark stock index dropped 0.1 in early trade, weighed down by losses in most sectors, with Emirates Central Cooling Systems losing 1.1 and the Gulf Navigation dropping 3.2.

In Abu Dhabi, the benchmark stock index was down 0.1, dragged by a 0.6 loss in Alpha Dhabi Holding and a 0.2 decline in First Abu Dhabi Bank, the largest lender in the United Arab Emirates.

Among the losers, Abu Dhabi National Hotels and Easy Lease lost 5.5 and 4.1, respectively.

Saudi Arabia39;s benchmark stock index was down 0.1, weighed down by losses in healthcare and energy sectors with Saudi Arabian Mining Co Ma39;aden falling 1.7 and oil giant Saudi Aramco losing 0.6.

Crude prices a key catalyst for the Gulf39;s financial markets slid 0.9 on Monday with Brent crude down to 74.09 a barrel by 0647 GMT.

Reporting by Md Manzer…