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Jan 26, 2026
Geopolitics & Forex Impact on Saudi Market
TASI Gains Amid Oil Volatility
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Global markets experienced notable volatility in oil and forex this week following recent geopolitical events, including the arrest of Maduro in Venezuela, raising concerns about potential oil supply disruptions. In this context, U.S. oil (WTI) traded at $61.06 per barrel, reflecting investor caution regarding political and economic stability in oil-producing nations. |
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Locally, the Saudi market (TASI) continued its positive momentum, closing up 1.7% on Thursday and recording weekly gains of 2.9%, reaching its highest close in over two and a half months, as highlighted by the Argaam article this week.
This performance is partly driven by investor confidence in Q4 corporate earnings and the stability of the local economy according to IMF projections, despite ongoing global pressures.
Market Analysis:
Venezuela’s current oil exports are relatively low (around 650,000 barrels/day), which may limit the long-term impact on oil prices, though investors are closely monitoring short-term volatility.
With oil trading at $61.06 , prices could rise toward $60–$62 if supply concerns persist, while a return to the previous range of $55–$58 is possible if the situation stabilizes.
The Saudi market shows resilience, benefiting from local economic stability and strong corporate earnings, making its indices more resistant to global market fluctuations.