Oil prices, which fuel growth in the region, fell on Friday, as Brent crude futures fell $2.23, or 2.7 percent, to $79.94 a barrel.
The European Union imposed a series of sanctions on Russia, which reduced Russian energy exports.
stock movements
The Saudi index fell by 1.34 percent, as the share of the oil giant “Saudi Aramco” fell by 1.5 percent, while the share of Al-Rajhi Bank, the largest Islamic bank in the world by market value, fell 1.9 percent.
Among the losers were Dr. Sulaiman Al Habib Medical Services, which fell 2.2 percent, and Riyad Bank, which fell 3.5 percent.
Outside the Gulf region, the Egyptian blue-chip index rose 0.1 percent, ending losses over four sessions.
The index rose due to gains achieved by the shares of the Commercial International Bank, which rose 1.4 percent, and the shares of Talaat Mustafa Group, which rose 3.1 percent.
Among the gainers were Palm Hills Development, which jumped 10.3 percent, and GB Auto, which also jumped 9.2 percent.
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