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26-02-22
Saudi financial market drops as crude costs increase
(MENAFN) Saudi markets closed the week on a low note amidst increasing crude costs after Russian troops went into Ukraine.
The benchmark index, TASI, as well as the equivalent market, Nomu both plummeted 1.84 percent to 12,297 and 24,942 points, in that order at the closing bell.
Brent crude exceeded USD105 for the first time since 2014. US standard index WTI surged to USD99.30 on Thursday, 3:22 p.m. Saudi time.
The top performers involved of Al-Baha Investment and Development Co., which increased 6.06 percent, and Aramco, which soared 2 percent. In the financial industry, Al Rajhi Bank and Alinma Bank both plummeted 3 percent.
MENAFN26022022000045013568ID1103766320
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