RIYADH: Saudi Arabia’s main stock market, TASI, closed lower on Sunday in line with other major Middle Eastern bourses. At the closing bell, TASI was down 0.5 percent at 13,463, while Nomu was almost flat at 23,832. Stock exchanges in Qatar, Bahrain, Oman, and Kuwait all dropped between 0.3 and 0.5 percent. In energy trading, oil prices plunged nearly 4 percent today on the back of demand concerns. Brent crude went down to $102.7 a barrel and US benchmark West Texas Intermediate reached $98.27 a barrel as of 9:34 a.m. Saudi time. Stock news Saudi Kayan Petrochemical Co. saw its net profit decline by 57.5 percent in the first quarter of 2022 The National Shipping Co. of Saudi Arabia, better known as Bahri, profit surged 49 percent to SR64.9 million ($17 million) during the first quarter of 2022 State-owned Saudi Electricity Co. announced its intention to fully redeem its SR5.7 billion local sukuk Yanbu Cement Co. saw its net profit drop by 47 percent to SR38.9 million in the first quarter of this year