Major stock markets in the Gulf rose in early trade on Thursday, tracking gains in Asian shares, as expectations grew for a Federal Reserve interest rate cut next month.

With a dearth of data on the U.S. economy following the end of the government shutdown, investors are focusing intensely on statements from Federal Reserve officials, with remarks this week significantly strengthening expectations for a rate cut.

According to the CME FedWatch Tool, traders now assign an 85% probability to a rate cut next month—up sharply from just 30% a week ago.

U.S. monetary policy shifts have a significant impact on Gulf markets, where most currencies are pegged to the dollar.

Saudi Arabia's benchmark index rose 0.4%, on course to snap a three-session losing streak, with Al Rajhi Bank gaining 0.7% and Saudi National Bank , the country's biggest lender by assets, increasing 1%.

Elsewhere, oil behemoth Saudi Aramco inched 0.2% higher.

Oil prices slipped on Thursday on expectations of a Ukraine-Russia ceasefire which could pave the way for the unwinding of Western sanctions against Russian supply, though trading was set to remain thin due to the U.S. Thanksgiving holiday.

Dubai's main share index climbed 0.5%, led by a 0.4% rise in blue-chip developer Emaar Properties.

In Abu Dhabi, the index was up 0.2%. Meanwhile, Dana Gas dropped 2.5%, after a rocket strike targeted its Khor Mor facility, one of the largest gas fields in Iraqi Kurdistan.

The attack on Wednesday prompted the suspension of operations at the gas field and caused major power cuts across the region.

The Qatari index, however, slipped 0.2%.

(Reporting by Ateeq Shariff in Bengaluru; Editing by Conor Humphries)