Most stock markets in the Gulf rose in early trade on Thursday as investors digested a report showing U.S. annual consumer prices jumped 9.1% in June, although the Saudi index traded lower, nearing a six-month low.

Dubai's main share index advanced 0.9%, buoyed by a 2.2% rise in blue-chip developer Emaar Properties and a 1.1% increase in sharia-compliant lender Dubai Islamic Bank .

The president of the United Arab Emirates said on Wednesday the Gulf OPEC producer would continue to support global energy security as a main driver of global economic growth, ahead of a U.S.-Arab summit in neighbouring Saudi Arabia this week.

Sheikh Mohammed bin Zayed al-Nahyan, in his first televised address since becoming president in May, also said the UAE would extend a "hand of friendship" to all countries that share values of peaceful coexistence and mutual respect.

In Abu Dhabi, the index added 0.3%, supported by a 0.9% rise in the country's biggest lender First Abu Dhabi Bank .

The Qatari benchmark gained 0.7%, with Qatar Islamic Bank rising 2.5%.

Saudi Arabia's benchmark index, however, fell 0.5%, nearing a six month low, hit by a 1.3% fall in top lender Saudi National Bank.

Oil prices, a key catalyst for the Gulf's financial markets, fell as investors weighed tight supplies against the prospect of a large U.S. rate hike that could stem inflation and curb crude demand.

(Reporting by Ateeq Shariff in Bengaluru; Editing by Krishna Chandra Eluri)