Feb 12 Reuters Most stock markets in the Gulf ended higher on Monday, ahead of U.S. inflation data, which is being closely watched for clues about when the U.S. Federal Reserve might cut interest rates.

Strong U.S. jobs data earlier in February meant investors reduced expectations for a Fed rate cut at its next meeting, with markets pricing an 84.5 chance of rates remaining unchanged in March.

Monetary policy in the sixmember Gulf Cooperation Council is usually guided by Fed policy because most regional currencies are pegged to the U.S. dollar.

Saudi Arabia39;s benchmark index gained 0.7, led by a 3.8 rise in Saudi Arabian Mining Co and a 1.5 increase in oil giant Saudi Aramco.

Saudi Arabia39;s energy minister on Monday said the Kingdom has plenty of spare oil production capacity, after the world39;s biggest oil exporter announced last month that it would scale back its longterm capacity expansion plans.

The Qatari benchmark finished 0.3 higher, with Qatar Gas Transport Nakilat surging 8.3, extending gains from the previous session when it rose 10.

On Saturday, QatarEnergy said it has selected Nakilat to be the owner and operator of up to 25 conventionalsize LNG carriers.

Dubai39;s main share index climbed 0.7, boosted by a 3.1 rise in bluechip developer Emaar Properties, stretching gains from the previous session on upbeat profit.

On Thursday, Emaar reported annual net profit of 11.63 billion dirhams 3.17 billion, up from 6.83 billion dirhams year ago.

In Abu…