Most Gulf stock markets reversed early losses to close higher on Tuesday, supported by stabilizing oil prices ahead of upcoming U.S. economic growth figures. Oil prices - a catalyst for the Gulf’s financial markets - were little changed as potential sales of Venezuelan crude seized by the United States were countered by heightened supply disruption fears after Ukrainian attacks on Russian vessels and piers. Saudi Arabia’s benchmark index gained 0.4%, helped by a 2.2% rise in the country’s biggest lender Saudi National Bank  and a 0.4% increase in Al Rajhi Bank. Sentiment was bolstered by a recent rebound in oil prices as geopolitical risks resurfaced. However, the medium-term outlook of a projected supply surplus in 2026 continues to weigh on the sustainability of this rally, said Joseph Dahrieh, Managing Principal at Tickmill. “Additionally, market sentiment improved as investors priced in further Fed rate cuts for 2026.” Dubai’s main share index edged 0.1% higher, with top lender Emirates NBD rising 0.5%. The Abu Dhabi index rose 0.2%. Meanwhile, markets are now anticipating two rate cuts in 2026, with expectations for looser monetary policy strengthenedby reports  that President Donald Trump may appoint a new  Federal Reserve chair early next year. Trump stated last week that the next Fed chair will be an individual strongly supportive of significantly lower interest rates. Monetary policy shifts in the U.S. have a significant impact on Gulf markets, where most currencies are pegged to the dollar. The Qatari index added 0.2%, with Qatar National Bank , the Gulf’s biggest lender by assets, finished 0.6% higher. Outside the Gulf, Egypt’s blue-chip index ended 0.8% higher, with top lender Commercial International Bank putting on 2.1%. The International Monetary Fund said on Tuesday it had reached a staff-level agreement with Egypt on the fifth and sixth reviews under its Extended Fund Facility arrangement, potentially unlocking a roughly $2.5 billion disbursement under the programme. Saudi Arabia rose 0.4% to 10,596 Abu Dhabi added 0.2% to 10,058 Dubai was up 0.1% to 6,162 Qatar gained 0.2% to 10,824 Egypt advanced 0.8% to 41,419 Bahrain rose 0.2% to 2,066 Oman up 0.1% to 5,948 Kuwait added 0.4% to 9,603