Saudi TASI Gains Momentum as Oil Hits 7-Year High

published:20/01/2022 05:27 GMT

Saudi Arabia’s main stock index was up for the eighth consecutive day as benchmark oil prices surged to seven-year highs. OPEC on Tuesday stuck to its forecast for robust growth in world oil demand in 2022 despite the omicron coronavirus variant and expected interest-rate hikes, predicting that the oil market would remain well supported through the year, Reuters reported. Brent crude jumped to its highest level in seven years, reaching US$87.3, and US WTI crude oil traded at US$85 per...More