Saudi shares closed higher on Saturday lifted by gains in petrochemical and banking stocks. The all-share ended 1.5 per cent higher at 7,336 points.

The Kingdom's banking index added two per cent to 17,008 points. Heavyweight Al Rajhi Bank gained 2 per cent.

The petrochemical index closed one per cent higher to 6,737 points. Saudi Fertilizers Company added 2 per cent.

Earlier in the day, the shares opened higher on Saturday, lifted by petrochemical and banking stocks.

Oil had slid more than 2 per cent on Friday after Saudi Arabia eased investor concerns about a reported pipeline explosion that had pushed Brent to the highest level since 2008.-Reuters