RIYADH: Saudi Arabia’s main stock index, TASI, started the day in the red territory amid lingering omicron-driven fears and higher oil prices, which hit a seven-year high on Tuesday. As of 10:15 a.m. Saudi time, TASI edged 0.2 percent lower to reach 12,177 points, and the parallel market Nomu was flat at 26,056 points. Early morning losses were propelled by an adverse performance in Saudi Arabia"s financial sector. The Kingdom’s largest bank by market value, Al Rajhi Bank, fell 0.3 percent. Shares in the Saudi British Bank, or SABB, Bank Aljazira, and Riyad Bank were down 1.4, 0.5, and 0.3 percent, respectively. Saudi Aramco opened 0.14 percent lower. The oil giant signed one agreement and nine MoUs with leading South Korean entities to advance its downstream strategy and support development of low-carbon energy solutions, while creating new financing options for the company. Tadawul group, owner of the Saudi Exchange, went up to its highest value since listing of SR170 ($45.3), with over SR90 million worth of shares changing hands during early trading. Shares in Saudi real estate developer Red Sea International Co. gained 1.5 percent, after it signed a SR60.5 million deal with The Red Sea Development Co., TRSDC, to develop three complexes in the Saudi Western region. Riyadh-based consumer durables and apparel company Thob Al Aseel Co. led the gainers, up 3 percent. In energy trading, Brent crude reached $87.9, and US WTI crude oil traded at $86 per barrel as of 10:30 a.m. Saudi time.