MIDEAST STOCKS-Most Gulf bourses trade lower as tariff tensions continue to weigh

June 2 (Reuters) - Most stock markets in the Gulf were trading lower early on Monday as U.S.-China trade tensions continue to weigh on sentiment, with U.S. President Donald Trump accusing China of violating a bilateral deal on tariff roll back.

Investor sentiment rattled on Trump's plans on doubling worldwide steel and aluminium tariffs to 50%, adding to the unpredictability of global trade tensions. The heightened tariffs are set to go into effect this week.

Meanwhile, oil prices rebounded by more than $1 a barrel after OPEC+ increased output in July by the same amount as it did in the previous two months. This came as a relief to investors who were expecting a larger increase. The group decided to raise output by 411,000 barrels per day in July.

Brent crude futures was up 2.33% to $64.24 a barrel, as of 0626 GMT. O/R

Analysts, however, said that low levels of fuel inventories in the U.S. have stoked supply concerns ahead of expectations for an above-avaerage hurricane season.

Markets in the UAE were subdued, with Dubai's main share index .DFMGI down 0.17% in early trade and Abu Dhabi's benchmark index .FTFADGI falling 0.21%. The Abu Dhabi index is set for a second staright session of losses.

In Dubai, utility services provider Dubai electricity and Water Authority DEWAA.DU was the top loser, down 1.47%.

The banking sector also faced losses, with Ajman Bank AJBNK.DU down 1.33% and Emirates NBD ENBD.DU trading 1.12% lower.

Bucking the trend, Saudi Arabia's benchmark stock index .TASI was up 0.44%. Saudi Print and Packaging Company 4270.SE was the top gainer on the index, up 5.66%.

Qatar's benchmark stock index .QSI was down 0.56% in early trade, with Dukhan Bank DUBK.QA down 0.71% and Islamic bank Masraf Al Rayan MARK.QA declining 0.62%.