Saudi stocks shoot up on the back of high oil prices

Share
1 min read
In the financial sector, the Kingdom’s largest valued bank Al Rajhi Bank saw its share price drop 0.13 percent.
Share
  • Oil prices kept rising rapidly, as Brent crude oil peaked at $130.85 per barrel, while US WTI crude reached $125.96 per barrel
  • Wataniya Insurance Co. gained 4.40 percent at the opening bell to be the top gainer at the opening bell

Nudged by high oil prices, Saudi stocks inched up as the main index, TASI, gained 0.24 percent to touch 12,882, while the parallel market fell 0.22 percent to 24,487.

Oil prices kept rising rapidly, as Brent crude oil peaked at $130.85 per barrel, while US WTI crude reached $125.96 per barrel.

Wataniya Insurance Co. gained 4.40 percent at the opening bell to be the top gainer at the opening bell.

Rabigh Refining and Petrochemical Co. dropped 2.08 percent, despite turning into profit of SR2 billion ($533 million) in 2021.

Saudi Co. for Hardware decreased 2.87 percent, as it turned into losses of SR28 million during 2021.
In the financial sector, the Kingdom’s largest valued bank Al Rajhi Bank saw its share price drop 0.13 percent.

SPEEDREAD


Today's Headlines

The most important news stories of the day, curated by Post editors and delivered every morning.

Please enable JavaScript in your browser to complete this form.

By signing up you agree to our Terms of Use and Privacy Policy.

MORE FROM THE POST