Saudi Shares Decline as Price of Crude Oil Drops; Safco Tumbles

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Saudi Arabian shares fell for a third day, led by petrochemical companies, as crude oil prices dropped to the lowest in almost six weeks, clouding the economic outlook for the world’s largest supplier.

Saudi Arabian Fertilizer Co., a unit of Saudi Basic Industries Corp. known as Safco, fell the most in three months. Rabigh Refining and Petrochemicals Co., a joint venture between state-owned Saudi Aramco and Sumitomo Chemical Co. of Japan, dropped to the lowest level in six months. Samba, the kingdom’s second-biggest bank, led declines among financial companies.

The Tadawul All Share Index slipped 0.5 percent to 6,221.16 in Riyadh, adding to losses since Jan. 26. The index is up 3.1 percent this month.