Riyadh, February 28, 2026, 09:30 (GMT+3) — The market is closed.
The Tadawul All Share Index (TASI) in Saudi Arabia slid 2.18% for the week ending Feb. 26, closing at 10,709.04 after touching a low of 10,703.70. Turnover reached about 18.7 billion Saudi riyals (SAR) on 872.7 million shares. Utility MARAFIQ surged 5.97% and Petro Rabigh added 5.66% over the week, but Saudi Research and Media Group (SRMG) tumbled 19.6%, according to Saudi Exchange data. 1
Geopolitical tension spiked late in the week, and shares of Saudi Aramco slid sharply after the company acknowledged damage at its Juaymah terminal and canceled some deliveries—a blow felt throughout energy stocks. The main index shed around 1.3% Thursday, with Al Rajhi Bank and Saudi National Bank both moving lower as traders dialed back exposure ahead of the third U.S.-Iran nuclear talks set for Geneva. 2
Oil just gave traders more to think about. Brent finished Friday at $72.48 a barrel, climbing 2.45%. Eyes are on upcoming technical-level talks in Vienna next week and whether negotiations might ease concerns about supply interruptions. “The likelihood Iran is going to agree to what the Trump administration wants doesn’t seem possible,” said Phil Flynn, senior analyst at Price Futures Group. According to Reuters sources, OPEC+ is expected to weigh a 137,000 barrels per day output hike for April at its March 1 meeting. 3
Thursday saw the Saudi market tumble, capping the session off with a 138.89-point drop ahead of the weekend. Around SAR 6.5 billion worth of shares changed hands, and 154 stocks closed in the red, according to Qatar News Agency. The Nomu parallel market also slipped by the end of the trading day. 4
Index moves factored in late-week market action. In the closing auction and trade-at-close session — the last stretch that determines official end-of-day levels — MSCI wrapped up its scheduled review, shifting Dallah Healthcare, Sipchem, and SRMG from its Global Standard Index to the Small Cap Index, according to Argaam. Since big passive funds track MSCI indices, such reshuffles often spark short, mechanical trading flows right before the bell. 5
Aramco’s decision followed a tangible hitch: The company reported it stopped liquefied petroleum gas (LPG) deliveries out of Juaymah after structural damage hit part of the propane and butane delivery system on Feb. 23. Shipments set for the coming weeks were scrapped as the situation is still being assessed. Traders are bracing for at least a month of downtime while repairs take place. “The Juaymah outage will certainly bring some business to the U.S. at some point,” said Greg Bower, an LPG broker with New Stone Americas. 6
Markets don’t always land on one interpretation. A strong oil bid bolsters cash flows in economies tied to crude, but when risk premiums swell on military threats, equity appetite tends to thin—particularly with the largest stocks leading the charge.
Sunday brings the next big test as trading picks up again. Traders are set to track any fresh details on Juaymah’s repair schedule and changes to exports, while the March 1 OPEC+ meeting looms. The U.S.-Iran issue and the upcoming Vienna technical talks remain in the backdrop for now.
Should those wires fall silent, bargain hunters could circle back to large banks and defensive stocks. But if not, the pattern from last week—sharp late-session selling followed by light rebounds—might stick around as March’s first full week kicks off.
