Aramco Shares Fall After Yemeni Attack

An attack by Yemen's armed forces on the heart of Saudi oil facilities triggered a wave of selling and capital flight on the Saudi stock market on Wednesday.

Following the attacks of the Yemeni armed forces on the vital and strategic facilities of the Saudi regime, the financial markets of this regime witnessed a free fall of indices and the flight of investors.

According to a Reuters report, Aramco shares fell 1.6 percent after the company's headquarters in the city of Dhahran in eastern Saudi Arabia were targeted by Yemeni armed forces and heavy damages were inflicted on it.

Meanwhile, Yemeni military sources issued a clear warning and advised Aramco shareholders to sell their shares as soon as possible to avoid further losses in the coming days.

Tassi index fell to the lowest level since March 2023

The main index of the Saudi Stock Exchange (TASI) fell 1.74 percent in Wednesday's trade and lost 179.31 points to close at 10,138.83 points, which is the lowest closing level since March 2023.

The total value of transactions in this session reached 3.9 billion Rials and the volume of transactions reached 209 million shares. In this session, only 15 companies faced an increase in price, while the shares of 252 companies fell.

According to Reuters, the early morning attacks of the Yemeni armed forces on the main headquarters of Aramco in Dhahran caused extensive damage and caused a huge fire in this building.

According to Reuters, the fire started from the ninth floor of the office building and quickly spread to the sixth to tenth floors. The top three floors of the building where Aramco CEO Amin Nasser's office is located were severely damaged and part of the roof collapsed and windows and doors were broken.

Another source also stated that "some of the duties of this company have been transferred to offices outside Saudi Arabia". The Yemeni armed forces announced in a statement yesterday, Wednesday, that they will continue their operations against Saudi airports and oil facilities, and this operation will have heavy consequences for the Saudi regime.

A military source also told Ambassador Arjan: "We advise the shareholders of Aramco to sell their shares so that they do not suffer losses in the coming days."