Saudi Arabian shares dropped for the first time in six days, reversing earlier gains, amid speculation that comments by officials from the world's largest oil producer may lead to lower crude prices.
Saudi Basic Industries Corp., the world's biggest petrochemicals maker, and Al Rajhi Bank, the kingdom's largest publicly traded lender by market value, led the losses.
The 146-member Tadawul All Share Index declined 0.2 percent, the gauge's largest loss in almost two weeks, to 6,710.56 at the 3:30 p.m. close in Riyadh. Three shares dropped for every two stocks that gained. The measure had advanced as much as 0.5 percent in intraday trading.
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