RIYADH: Saudi stocks closed higher for the third consecutive day on Tuesday, with Saudi oil prices remaining unaffected by the Ukraine-Russia conflict.
Saudi Oil is currently selling between $45 and $50, which is a 60 percent decrease compared to June 2021, as reported by the Middle East Policy Council.
As of the closing bell, TASI closed 0.67 percent higher to reach 12,674 points, while the parallel market, Nomu, edged down 0.9 percent to 25,000 points.
May Brent crude futures were up $6.10 to $104.07 a barrel by 1252 GMT. The benchmark touched a seven-year high of $105.79 after the invasion began last week.
US West Texas Intermediate April crude futures were up $5.38 at $101.10, its highest since July 2014.
Scientific and Medical Equipment House Co. was the top gainer for the second day, rising 16.57 percent.
SABB Takaful Co. led the fallers from early trading through close, dropping 4.87 percent.
Saudi Kayan Petrochemical Co. edged up 2.65 percent, as its board appointed Fahd Al-Sherehy as a representative of SABIC.
Advanced Petrochemical Co. gained 3.20 percent, as its board recommended a 20 percent capital increase to SR2.6 billion ($693 million).
Leading Saudi fitness chain Leejam Sports Co. climbed 2.53 percent, following the announcement of its new Riyadh gym.
In the financial sector, Alinma Bank shares rose 0.70 percent, while Al Rajhi Bank’s shares edged down 0.25 percent.
The shares of the largest player in the Saudi oil market, Aramco closed, down 0.24 percent.