Major stock markets in the Gulf fell in early trade on Monday amid weak oil prices with the Saudi index on course to fall for a sixth consecutive session.

Oil prices - a catalyst for the Gulf's financial markets - traded in a tight range as worries about rising output and the impact of U.S. tariffs on demand offset supply disruptions stemming from intensified Russia-Ukraine airstrikes.

Brent crude fell 30 cents, or 0.44%, to $67.18 a barrel by 0500 GMT.

A Reuters poll on Friday showed that oil prices are unlikely to gain much traction from current levels this year, as rising output from top producers adds to the risk of a surplus and U.S. tariff threats weigh on demand growth.

Lower prices and disruptions to crude exports impact fiscal balances in countries reliant on oil income.

Saudi Arabia's benchmark index eased 0.2%, hit by a 0.5% fall in Al Rajhi Bank and a 3.5% decline in Arab National Bank.

Oil giant Saudi Aramco was down 0.5%.

Yemen's Houthis said on Monday they launched a missile towards the Liberia-flagged Israeli-owned tanker 'Scarlet Ray' near Saudi Arabia's Red Sea port city of Yanbu.

Dubai's main share index declined 1.1%, with sharia-compliant lender Dubai Islamic Bank retreating 2.1% and blue-chip developer Emaar Properties declining 1.4%.

In Abu Dhabi, the index eased 0.6%.

The Qatari index dropped 0.4%, with petrochemical maker Industries Qatar falling 0.4%.

(Reporting by Ateeq Shariff in Bengaluru; Editing by Mrigank Dhaniwala)