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Saudi Aramco hits new low on US-Iran tensions

Saudi stocks also dropped 1.4 percent, following across-the-board selling in Gulf markets amid escalating tensions between the United States and Iran.

January 08, 2020 / 02:38 PM IST

Shares of Saudi Aramco opened at 34 riyals ($9.06) on January 7, their lowest level since the oil giant began trading on December 11, after Iran launched missiles on US targets in Iraq.

Saudi stocks also dropped 1.4 percent, following across-the-board selling in Gulf markets amid escalating tensions between the United States and Iran.

Aramco shares are down about 12 percent from a peak of 38.70 riyals on December 12, but still above the IPO price of 32 riyals that valued the company at $1.7 trillion.
Reuters
first published: Jan 8, 2020 12:48 pm

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