Saudi stocks plunge after attack on oil plants

Saudi stocks .TASI opened 2.3 per cent lower on Sunday, reacting to news of attack on two plants at the heart of the kingdom’s oil industry on Saturday, knocking out more than half Saudi output.

Other Gulf markets also reacted negatively to the attack with Kuwait’s premier index .BKP down 1.1 per cent and Dubai stocks .DFMGI falling 0.8 per cent.

Saudi Basic Industries, the kingdom’s biggest petrochemicals firm, plunged 3.5 per cent after it said it had curtailed feedback supplies by about 49 per cent, following the attack.

The drone attacks were claimed by Yemen’s Houthi group, the group’s military spokesman said on Al Masirah TV.