Saudi Equities Close Lower as Oil Prices Falter

08:11 AM EST, 12/16/2025 (MT Newswires) -- The Tadawul All Share Index closed Tuesday 1.30% in the red as falling oil prices took center stage amid the geopolitical tensions from the Russia-Ukraine conflict. "Renewed optimism over a Russia-Ukraine ceasefire weighed on the oil market yesterday. ICE Brent settled a little more than 0.9% lower, leaving it at $60.56/bbl -- the lowest close since May. President Trump has said that an agreement to end the war in Ukraine is closer than ever, after talks in Berlin. Clearly, territory remains a big sticking point," ING said in a note. Bloomberg News reported that the US agreed to offer Ukraine security guarantees similar to NATO's mutual-defense clause following a two-day meeting in Berlin between Ukrainian President Volodymyr Zelenskiy and officials from the US and Europe. Russia's Deputy Foreign Minister Sergei Ryabkov, however, said that Moscow's territorial demands remain unchanged. On the macro front, investors await the release of the US' non-farm payroll and unemployment rate figures later in the day, while the euro area's final consumer price index report for November is also due on Wednesday. Back home, Saudi Arabia's Public Investment Fund agreed to sell a "significant" stake in the Saudi Facility Management Co. to US-based real estate company JLL. The fund will retain a majority ownership in the company. In corporate news, Saudi Telecom Co. (SASE:7010), d/b/a stc group, signed a five-year master frame agreement with Ericsson to accelerate the rollout of digital infrastructure and expand technology adoption across Saudi Arabia. The telecommunications company's shares fell 0.09%.