Riyadh, January 19, 2026, 17:35 (GMT+3) — The market has closed.
- Shares of Saudi Aramco dipped, erasing part of the ground they had gained in the prior session.
- Oil prices slipped, trimming gains in Gulf energy shares.
- Focus shifts to volatile crude prices, a slew of regional earnings reports, and the looming Aramco earnings announcement.
Saudi Arabian Oil Co. shares slipped 0.36% to 24.89 riyals on the Saudi Exchange Monday, after climbing 0.73% the previous day. (Argaam)
This shift is notable because Aramco acts as the main oil proxy in the market. When crude prices fluctuate, investors tend to respond quickly, tweaking the stock’s value—even without fresh updates from the company.
The equity session continues until 3:20 p.m. local time, with attention turning to offshore developments before Tuesday’s open — particularly oil and geopolitical updates. (Saudi Exchange)
Saudi Arabia’s main index ended Monday flat, even as most Gulf markets climbed on easing regional tensions. Weak oil prices and profit-taking weighed on risk appetite. “Oil-price swings remain a key risk for sentiment,” said Milad Azar, market analyst at XTB MENA. (Reuters)
Oil prices pulled back after earlier gains as tensions in Iran appeared to cool, easing fears of supply disruptions. Brent fell 40 cents, ending at $63.79 a barrel, while U.S. WTI slipped to about $59, Reuters reported. Rystad analyst Janiv Shah pointed out that the market’s focus has shifted toward the Greenland standoff and how rising trade tensions might hit demand. (Reuters)
The pullback followed a strong Sunday in Riyadh, where Saudi stocks gained 0.9%, lifted by government steps to make capital markets more accessible to foreign investors. “I expect the Saudi market to trade within a sideways range … with a mildly positive bias,” said Rania Gule, senior market analyst at XS.com – MENA. (Reuters)
The Capital Market Authority announced that from Feb. 1, the Saudi capital market will be fully accessible to all foreign investors. The “Qualified Foreign Investor” designation will be eliminated, along with the restrictions tied to swap agreements. By the end of Q3 2025, foreign ownership had already surpassed 590 billion riyals. (Capital Market Authority)
Crude still holds sway over Aramco in the near term. A drop in oil prices could drag the stock down. Yet, if risk premiums jump back quickly, the move could flip just as fast.
The region kicks off its first round of fourth-quarter earnings this week, stirring daily shifts among banks, industrials, and energy stocks. Aramco remains the main benchmark for the broader oil market.
Aramco scheduled its FY 2025 results and earnings call for Tuesday, March 10. Traders eager for signals on dividends and capital expenditure will be watching closely. (Aramco)
