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      Aramco shares slide after Houthi strike

      State-owned oil company Saudi Aramco saw its shares fall slightly when markets opened on Wednesday, following an attack on its headquarters.

      Its share price fell to SAR25.58 ($6.81), 1 percent lower than the previous day, despite a rise in oil price to $106 a barrel.

      Aramco’s share price is still up by 7 percent this year, which the company has attributed to its ability to maintain exports throughout the war and benefit from the elevated price of oil.

      The company’s headquarters in Dhahran in eastern Saudi Arabia were targeted on Tuesday evening, resulting in a small fire, according to a statement from the Ministry of Energy.

      The ministry did not offer further details of the attack or hold any group responsible.

      A spokesperson for the Houthis in Yemen had previously said earlier on Tuesday that it would target Aramco’s headquarters, more than 1,300km away from the group’s base in Sanaa.

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      Source: AGBI
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