The Saudi main market index (TASI) ended Sunday’s session up by 0.82 percent, closing at 10,189 points, amid trades worth 2.3 billion riyals.
The index recorded its highest level during the session at 10,215 points, while it reached its lowest level at 10,107 points.
At the sector level, the energy sector topped the list of sectors with the highest increase, with gains amounting to 1.99 percent, supported by a rise in “Saudi Aramco” shares by 2.06 percent, to close at 25.80 riyals.
The shares of “Arabia”, “Ladon” and “Al-Fakhariya” topped the list of stocks that rose the most, with gains ranging between 7 and 9 percent, closing at 42.12 riyals, 1.99 riyals, and 16.90 riyals, respectively.
On the other hand, “National Steel” stock topped the list of stocks with the lowest decline, falling by 8 percent to close at 3.22 riyals, followed by “Najran Cement” stock, down 2.32 percent to 5.47 riyals, then “Saico” stock, which fell by 2.12 percent to close at 9.25 riyals.
It will take 15 to 20 days for Russian diesel to be shipped to the U.S. market once the contracts are signed, a Russian official said in an interview broadcast Sunday.
Last week, US President Donald Trump announced an agreement with Moscow, which sparked criticism from Ukraine and its European allies. The agreement is seen as part of attempts to reduce fuel prices for American consumers, ahead of the midterm elections in November.
Russian Deputy Prime Minister for Energy Affairs, Alexander Novak, said in an interview with the state broadcaster Vesti: “Negotiations are currently underway on commercial terms, that is, finalizing contracts.”
He added: “Once the contracts are signed, the fuel will reach the markets, and in this case the American markets, within 15 to 20 days,” without specifying the date of signing.
The Kremlin Advisor for International Economic Cooperation, Kirill Dmitriev, said on Wednesday that the contracts would be signed within days.
Americans' dissatisfaction with the rise in fuel prices since the start of the war waged by the United States and Israel against Iran has raised fears that Trump's Republican Party will suffer heavy electoral losses next month.
Many experts believe that the diesel agreement with Moscow will not make a fundamental difference for consumers.
The United States consumes 3.9 million barrels of diesel per day, while the first phase of the agreement with Moscow includes 2.22 million barrels, an amount barely enough to cover half of America’s daily consumption.
Turkish Energy Minister Alp Arslan Bayraktar said on Sunday that his country will receive a portion of the diesel quantities that Russia will import to global markets, according to an agreement reached with US President Donald Trump.
Bayraktar pointed out that the diesel supply agreement between America and Russia is of great importance to Turkey's energy security.
Ankara depends on Russia to meet part of its energy needs, in addition to its dependence on Iran, Azerbaijan and other countries, while it is currently seeking to diversify its sources by concluding agreements with America and other partners.
Bayraktar said, in television statements: “Russia imposed restrictions on diesel exports in recent months when it began to face this problem. Now, I have reached an agreement on diesel with Trump... and through the conversations we had, we will get a portion of this diesel for Türkiye’s benefit.”
The minister did not provide further details.
This agreement was met with sharp criticism from Ukrainian President Volodymyr Zelensky, European officials, and some Republican politicians from Trump's own party.
Bayraktar also stated that Turkey plans to operate a second floating platform for gas production in the first quarter of 2028, explaining that this platform will raise Turkey’s total daily production in the Black Sea to 45 million cubic meters.
On Saturday, Türkiye sent the first floating gas production platform, called “Osman Ghazi”, to the Black Sea.
According to Bayrakdar, this step is expected to double the daily production from the largest local gas field, the Sakarya field, to reach 20 million cubic meters, up from the current level of 9.5 million cubic meters (equivalent to 7.3 billion cubic meters annually).
The minister said: “In the first quarter of 2028, the second floating platform will arrive in Türkiye, and through it we will be able to produce 25 million cubic meters. This platform has a slightly greater production capacity than the Othman Ghazi platform.”
He added: “Therefore, with a production of 45 million cubic metres, we will be able to meet the needs of 3 out of every 4 homes in Türkiye using our local gas.”
He explained that Turkey's daily production from the field will rise to 550,000 barrels of oil equivalent with the entry of a second floating platform into service.
Türkiye is one of the largest gas markets in Europe, as its consumption reached 59 billion cubic meters last year. The country depends almost entirely on imports to meet all its gas needs. Domestic production reached only 3.1 billion cubic meters last year, most of which came from the Sakarya field.
Bayraktar stated that the planned hydrocarbon exploration operations off the coast of Pakistan have been postponed for about 6 months. This is due to the repercussions of the Iran war.
