Most Gulf stock markets opened higher on Wednesday, supported by ‍slightly cooler-than-expected ‍U.S. inflation data that strengthened expectations for future interest ​rate cuts, though persistent geopolitical tensions kept gains in ⁠check.

U.S. consumer prices rose in December, driven by increased expenses ⁠for housing and ‌groceries, reinforcing analysts' views that the Federal Reserve would hold interest rates this ⁠month.

U.S. President Donald Trump welcomed the inflation figures, reiterating his push for the U.S. Federal Reserve Chair Jerome Powell to cut interest rates "meaningfully."

Investors expect ⁠two 25-basis-point rate cuts ​this year, with the earliest in June.

Gulf markets often track shifts in ‍U.S. rate expectations, as most regional currencies are pegged to ​the dollar.

Saudi Arabia's benchmark index rose 0.2%, with Al Rajhi Bank gaining 0.5% and Saudi National Bank , the country's biggest lender by assets, putting on 0.6%.

Dubai's main share index advanced 0.5%, with utility firm Dubai Electricity and Water Authority rising 2.1%.

In Abu Dhabi, the index was up 0.1%. Trump urged Iranians to keep protesting, saying ⁠help is on the way. ‌Iran in turn accused Trump of encouraging political destabilization and inciting violence.

The Qatari benchmark lost 0.4%, ‌hit by ⁠a 0.8% fall in petrochemical maker Industries Qatar.

(Reporting by Ateeq ⁠Shariff in Bengaluru, Editing by Alexandra Hudson)