Arab Press

بالشعب و للشعب
Saturday, Jul 12, 2025

Saudi gains ahead of OPEC+ meet as oil prices climb

Saudi gains ahead of OPEC+ meet as oil prices climb

Saudi Arabia's stock market ended higher on Sunday as oil prices rose ahead of Monday's OPEC+ meeting, while Qatar continued its down trend as inflation worries and the tightening U.S. Federal Reserve policy outlook sapped investors' risk appetite.
Oil, a key driver for Gulf markets, rose 66 cents to $93.02 a barrel on Friday on expectations that the meeting of the Organization of the Petroleum Exporting Countries and other major producers including Russia will discuss output cuts.

Saudi Arabia's benchmark index (.TASI) edged up 0.4%, with Riyad Bank (1010.SE) increasing 3.3% while oil behemoth Saudi Aramco (2222.SE) was up 1.5% at 37.65 riyals ($10.02).

Among other stocks, Arabian Contracting Services Company (4071.SE) gained 0.6% after its board proposed a 1.90 riyals per share half yearly dividend.

In Qatar, the index (.QSI) slipped 0.3%, extending the losses for six straight sessions, as gains in industrial stocks were offset by losses in the financial sectors with commercial Bank (COMB.QA) decreasing 1.8%.

Industries Qatar (IQCD.QA) was up 1%.

Separately, Qatar's foreign minister said in remarks cited by Al Jazeera TV on Saturday that his government will step up investments in the gas sector.

Egypt's blue-chip index (.EGX30) ended 0.6% higher as the country's lone cigarette maker, Eastern Company (EAST.CA), jumped 3%, after it raised prices for its Local Cigarettes Brands effective Sept. 4.

($1 = 3.7585 riyals)
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Qatar Airways Clears Backlog of Passengers Following Missile Threats
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
×