News - Middle East: The Saudi index closed with heavy losses, after recording strong gains, the day before yesterday, Wednesday, following statements by Crown Prince Mohammed bin Salman regarding negotiations to sell a share of Aramco to a foreign partner.

The decline in the Persian Gulf markets came despite the rise in crude oil prices, which have a severe impact on the economies of the region, with the increasing hopes of an economic recovery in the United States, which leads to an increase in demand for crude.

Earlier on Thursday, benchmark Brent crude for June delivery rose by $ 1.13 or 1.69%, to trade at $ 67.91 a barrel.

And US West Texas Intermediate crude futures, for June delivery, rose $ 1.06, or 1.66%, to $ 64.92 a barrel.

The Saudi market index closed at 10419, down by 1.07%, after a session in which it recorded gains of more than 2.5%, Thursday.

The oil giant Aramco fell 1.12%, the petrochemical producer "SABIC" by 4.2%, and Al-Rajhi Bank by 3.04%.

Fitch credit rating agency reported that the extended impact of the Covid-19 pandemic and the sharp drop in oil prices last year will lead to deficits in most Gulf governments.

The Gulf countries led by Saudi Arabia are waging war against Yemen for six years. They targeted the infrastructure of the country and all the economic resources causing the worst humanitarian crisis in the world.