MIDEAST STOCKS-Major Gulf markets slip ahead of US inflation data

May 10 (Reuters) - Major stock markets in the Gulf fell in early trade on Wednesday tracking Asian shares lower ahead of U.S. inflation data, which could provide potential cues into the U.S. Federal Reserve's rate trajectory. Most Gulf Cooperation Council countries have their currencies pegged to the U.S. dollar and follow the Fed's policy moves closely, exposing the region to a direct impact from monetary tightening in the world's largest economy. MSCI's broadest index of Asia-Pacific shares outside Japan had fallen on Tuesday and inched down a further 0.4% on Wednesday. Saudi Arabia's benchmark index eased 0.2%, with Saudi Electricity Co SJSC declining 5.1% as the utility firm reported a fall in quarterly profit. Separately, Saudi Arabia, which pledged to cut production by 500,000 bpd from May, has informed buyers in Asia that it will supply full crude oil volumes requested for June. Some Chinese refiners may have asked for less supply, sources said, which would help the world's top oil exporter meet its lower output target. Dubai's main share index dropped 0.5%, with blue-chip developer Emaar Properties PJSC losing 1.2% and Emirates Central Cooling Systems Corporation PJSC falling 1.8%. In Abu Dhabi, the index eased 0.1%. The Qatari index fell 0.3%, with Qatar National Bank QPSC retreating 1.2% Oil prices - a key catalyst for the Gulf's financial markets - fell, ending a three-day rally, as an unexpected rise in U.S. oil inventories sparked demand concerns and investors awaited U.S. inflation data to gauge the next rate decision in the top oil consuming nation. (Reporting by Ateeq Shariff in Bengaluru; Editing by Varun H K)