Saudi shares closed higher on Saturday, lifted by gains in the petrochemical sector after oil prices rose on Friday.

The all share closed 0.4 per cent higher at 6,751 points and the petrochemical sector rose 0.5 per cent to 6,919 points. Petrochemical giant Saudi Basic Industries gained 0.5 percent.

Saudi developer Emaar Economic City surged 9.5 per cent after it said on Wednesday it received a 5 billion riyal loan ($1.33 billion) from the kingdom's finance ministry to speed up construction of a project.

Earlier in the day, the market opened 0.6 per cent higher supported by gains in the petrochemical sector.

US crude for July delivery settled at $100.59 a barrel, up 36 cents. For the week, US crude gained $1.10, or 1.12 per cent.-Reuters