Jan 4 Reuters Most stock markets in the Gulf ended higher on Thursday on the back of rising oil prices, with the Saudi index leading the gains.

Oil a catalyst for the Gulf39;s financial markets  rose by about 1, extending gains amid concerns over Middle Eastern supply after disruptions at an oilfield in Libya and heightened tensions relating to the IsraelHamas war.

Saudi Arabia39;s benchmark index advanced 1.8, buoyed by a 5 jump in Elm Co and a 6.9 surge in the country39;s biggest lender Saudi National Bank.

However, petrochemical makers and cement companies were mostly in negative territory.

Several Saudi Arabian companies released regulatory filings late Wednesday and on Thursday, saying state energy company Saudi Aramco39;s decision to raise feedstock and fuel prices for this year will increase production costs and reduce earnings.

Among the losers, Saudi Basic Industries Corp finished 1.7 lower, whereas Yamama Cement slid 3.2.

Separately, the kingdom estimates financing needs of about 86 billion riyals 22.93 billion in 2024 under a borrowing plan approved by Finance Minister Mohammed Al Jadaan, the National Debt Management Center NDMC said.

The Qatari benchmark increased 0.5, with petrochemical firm Industries Qatar gaining 1.2.

Dubai39;s main share index was up 0.2, helped by a 1.5 rise in toll operator Salik Co.

In Abu Dhabi, the index fell 0.7.

Minutes of the Fed39;s Dec. 1213 meeting released on Wednesday showed a growing sense among policymakers that…