DUBAI - Rising oil prices helped Middle East indexes eke out modest gains on Tuesday, though shares more exposed to foreign funds followed global markets lower, weighed down by a list of worries including North Korea.

Brent oil surged 3.8 percent overnight to settle at $59.02 a barrel after major producers said the global market was on its way to rebalancing, and crude held near that level on Tuesday.

Riyadh's index .TASI rose 0.2 percent as most petrochemical shares advanced, including bellwether Saudi Basic Industries 2010.SE which added 1.4 percent.

The main stock index had dropped 1.4 percent on Monday amid rumours that index compiler FTSE might not upgrade Riyadh to emerging-market status on Sept. 29.

Although no fresh news or reports were released overnight to quash the speculation, investors bought shares that had been hit on Monday including lender Samba Financial Group 1090.SE ; it rebounded 0.8 percent on Tuesday regaining some of Monday's 2.8 percent decline.

Qatar's stock index .QSI climbed 1.4 percent, its largest single-day rise since July 13 as local and regional funds were again net buyers, bourse data showed.

Fund managers from the six-nation Gulf Cooperation Council, excluding Qatar, dumped Qatari equities after four Arab states cut ties with Doha in June. It was not clear whether some GCC investors were now buying because they hoped for a resolution of the dispute.

Commodity-linked shares were some of the top performers on Tuesday, with oil and drilling service provider Gulf International Services GISS.QA surging 9.1 percent.

The Dubai index .DFMGI added 0.2 percent as stocks favoured by local day traders were the most active; builder Drake & Scull DSI.DU climbed 2.4 percent.

In Abu Dhabi, Dana Gas DANA.AD rose 1.4 percent, recovering slightly from its steep declines over the last several days, as a London court hearing resumed on Monday on its maturing sukuk issue.

Rising tensions between North Korea and the United States hurt Egyptian shares which are most vulnerable to foreign fund flows; private equity company Qalaa Holdings CCAP.CA dropped 5.7 percent. urn:newsml:reuters.com:*:nL8N1M73EI

The main index .EGX30 edged up by 0.2 percent on the back of gains in shares commonly traded by local investors; media conglomerate Orascom Telecom OTMT.CA jumped 8.3 percent.



HIGHLIGHTS



SAUDI ARABIA



* The index .TASI rebounded 0.2 percent to 7,240 points.



DUBAI



* The index .DFMGI fell 0.2 percent to 3,561 points.



ABU DHABI



* The index .ADI added 0.07 percent to 4,414 points.



QATAR

* The index .QSI rose 1.4 percent to 8,569 points.



EGYPT



* The index .EGX30 added 0.2 percent to 13,674 points.



KUWAIT



* The index .KWSE edged down by 0.04 percent to 6,764 points.

BAHRAIN



* The index .BAX lost 0.07 percent to 1,291 points.



OMAN



* The index .MSI fell 0.3 percent to 5,114 points.

(Editing by Andrew Heavens) ((celine.aswad@thomsonreuters.com)(+971 5 6224 7653)(Reuters Messaging: celine.aswad.thomsonreuters.com@reuters.net))