Saudi dips as petchems track oil drop; UAE markets down - ArabianBusiness.com

Saudi Arabia's 15 largest stocks declined as falling crude prices and worries over the global economy spurred selling, ending an early-week equity rally in the world's top oil exporter.

Petrochemicals stocks slumped, with Saudi Basic Industries Corp (SABIC) and Yanbu National Petrochemical Co (Yansab) each down 1.3 percent, while National Industrialisation Co dropped 2.3 percent.

These losses tracked declines in oil prices, with US crude futures falling 1.9 percent to $84.77 a barrel.

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