DUBAI- An overnight surge in the Brent oil price LCOc1 above $67 a barrel for the first time since May 2015 helped most Gulf stock markets rise on Wednesday, while Dubai rebounded modestly from a six-month low.

The Saudi stock index .TASI closed 0.3 percent higher in active trading volume, though it came off an early high as the oil price retreated from its peak on Wednesday afternoon.

Eleven of 13 Saudi petrochemical producers, whose margins could benefit from dearer oil, rose. The biggest, Saudi Basic Industries 2010.SE , added 0.6 percent.

Construction firms were also strong on hopes that higher oil revenues would give the government money to boost infrastructure spending next year; Khodari 1330.SE rose 2.2 percent.

Dubai's index .DFMGI rose 0.4 percent in a broad-based rally, with Shuaa Capital SHUA.DU surging 5.1 percent. But volume was thin except for Al Safwa Mubasher Financial Services SFWAMUBASHER.DU , which saw 268 million shares change hands - more than half the market's entire volume, and almost half the number of the company's outstanding shares.

Safwa Mubasher, which rarely trades, plunged 10 percent to 0.999 dirham. Ehab Rashad, chief executive of Safwa Mubasher, told Reuters that the company completed on Wednesday an internal transaction that involved moving over 276 million shares from a Bahrain-based affiliate to its Dubai parent, Mubasher Holding.

Abu Dhabi's index .ADI surged 1.2 percent on the back of two companies which could benefit from higher oil prices: Dana Gas DANA.AD , up 2.6 percent, and fuel distributor ADNOC Distribution ADNO.AD , which was 2.4 percent higher.

Qatar's index .QSI was almost flat but drilling rig provider Gulf International Services GISS.QA , another possible beneficiary of a stronger oil industry, gained 2.3 percent.



HIGHLIGHTS



SAUDI ARABIA



* The index .TASI rose 0.3 percent to 7,201 points.



DUBAI



* The index .DFMGI gained 0.4 percent to 3,346 points.



ABU DHABI



* The index .ADI rose 1.2 percent to 4,369 points.



QATAR



* The index .QSI edged down 0.01 percent to 8,500 points.



EGYPT



* The index .EGX30 edged down 0.1 percent to 14,905 points.



KUWAIT



* The index .KWSE edged up 0.03 percent to 6,371 points.



BAHRAIN



* The index .BAX rose 0.8 percent to 1,295 points.



OMAN

* The index .MSI gained 0.7 percent to 5,040 points.

(Additional reporting by Tom Arnold; editing by Andrew Roche) ((andrew.torchia@thomsonreuters.com)(+9715 6681 7277)(Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))