Saudi shares open lower as oil hits 18-month low
Saudi shares opened lower on Saturday weighed by losses to petrochemical and banking stocks after global oil and equity markets dipped on Thursday and Friday.
The all-share opened 0.6 percent lower to 6,795 points and the petrochemical sector opened 0.9 percent lower at 5,961 points.
Petrochemical bellweather Saudi Basic Industries Corp (SABIC) dipped 0.8 percent in early trade.
Brent oil futures hit an 18-month low on Thursday before rebounding to settle at $90.98 a barrel on Friday, a fall of 6.8 percent over the week.
US shares slipped more than 2 percent on Thursday, the second-worst fall of the year, before gaining slightly on Friday.
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