© Archyde.com. Saudi traders monitor stock information at the Riyadh Stock Exchange in Riyadh in a file photo from Archyde.com archive.
(Archyde.com) – The stock market index closed on Thursday, down 1.26 percent to 12,605 points, with a decline.
Crude prices fell on Thursday after speculation that Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries may increase crude production to offset any decline in Russian production.
By 1035 GMT, Brent crude fell $2.82, or 2.4 percent, to 113.47 a barrel, after rising 0.6 percent the previous day.
The Saudi oil giant Aramco (TADAWUL:) fell 2.1%, the Saudi Basic Industries Corporation (SABIC (TADAWUL:)) fell 1.2%, Riyad Bank 3.3% and Al-Rajhi Bank 1.2%.
(Press coverage for the Arabic Bulletin, Ahmed Hajjaj – Editing by Suha Jado)