Saudi Arabian shares fell in early trade today, reflecting the market’s first reaction to drone strikes on the kingdom’s vital East-West crude pipeline, Reuters reports.
Saudi Arabia’s benchmark index TASI dropped 1.0 per cent, weighed down by a 0.8pc decline in Al Rajhi Bank and a 2.4pc slide in Saudi Arabian Mining Company.
Oil giant Saudi Aramco slipped 1.1pc, while Rabigh Refining and Petrochemical Company plunged 7.3pc to emerge as the session’s worst performer.
The sell-off followed a precautionary shutdown of the East-West pipeline after aerial strikes last week struck installations across the Riyadh and Medina regions, causing several injuries.
