Tadawul Shares Extend Losing Streak on Wednesday; Sadafco Edges Up

08:23 AM EST, 12/17/2025 (MT Newswires) -- The Tadawul All Share Index closed in the red for a second day in a row at 0.37% on Wednesday as oil supply concerns due to the US' blockade of Venezuelan oil tankers dampened investor sentiment. US President Donald Trump threatened to block all sanctioned oil tankers from entering or leaving Venezuela. In social media posts, Venezuela denounced Trump's move, calling it a violation of international law. "Oil prices have bounced higher in early-morning trading today (WTI up around 1.3% at the time of writing), after President Trump ordered a blockade of sanctioned oil tankers entering and leaving Venezuela. This follows the US seizing an oil tanker off the coast of Venezuela last week. Venezuela exported around 600k b/d of oil in November. It's likely that these volumes will fall given the latest developments. The bulk of this oil is shipped to China," ING said in a note. Speaking of the US, its nonfarm payroll employment for November climbed to 64,000, compared with the 105,000 decline a month prior. Meanwhile, the US unemployment rate rose to 4.6% from 4.4%. Back at home, Saudi Arabian energy and infrastructure company Midad Energy reportedly became one of the preferred buyers of Russia-based Lukoil's foreign assets worth $22 billion, Reuters reported, citing sources. Meanwhile, Saudia Dairy & Foodstuff Co. (SASE:2270), d/b/a Sadafco, closed 0.69% higher as it wrapped up its share buyback. The food manufacturer repurchased 10.1 million Saudi riyals worth of 40,124 shares, representing 0.123% of the company's share capital.