Saudi Arabia's Tadawul market closed insignificantly lower at 5,924.59 points (down 0.05%). Market bellwether Saudi Basic Industries Corporation (Sabic) lost 1.50% (closing at SR82.00) after oil prices retreated to the level of $70 per barrel. Sabic was also the most liquid stock, as shares worth around SR442.5 changed hands. The utility sector bucked the lackluster sentiment in the GCC. The Tadawul energy and utilities sector index advanced by 2.49% while Saudi Electricity closed 2.98% higher at SR12.10.