The Saudi market opened today with a strong rise led by Aramco, which rose by nearly 4%, recording 26.9 riyals per share, the highest level for the company since March 2025.
The secret behind Aramco's rise to a 52-week high
This rise in Aramco shares comes in line with the rocket launch of Brent crude oil prices in Friday's trading, where the price per barrel rose to $93.04, an increase of 8.9%, with expectations of continued rise in oil prices on the back of Israel's targeting of oil infrastructure in Iran and Iran's response by targeting the oil refinery in Haifa.
The war does not appear to be ending soon, with Donald Trump declaring his desire for an unconditional surrender from the Iranian side, and Israeli raids continuing on Tehran and southern Lebanon on one side, while on the other side, Iranian drones and missiles are still capable of inflicting heavy damage on Israel and raising tensions in key Gulf oil-producing cities, with the Strait of Hormuz almost completely closed since last week.
The Tadawul All Share Index (TASI) is chasing the 11,000-point mark again.
The Tadawul All Share Index (TASI) is currently at 10,949.24 points, nearing the 11,000-point mark it has missed since February 23. The gains are being led by shares of Aramco, Kayan Petrochemical, Petro Rabigh, Yanbu National Petrochemical Company (YANSAB), and others, amid a general upward trend in Saudi stocks following reassuring messages from the Iranian side and Iranian President Gebran Bassil, who apologized to neighboring countries and pledged not to attack them again, provided their territories are not used to launch attacks against Iran.
