Aramco stocks will be making their debut at 0730 GMT
The shares were indicated at 35.2 riyal ($9.39) each in pre-market auction today, and that is 10% above their IPO price of 32.0 riyal, according to Refinitiv data.
I reckon in part what is keeping oil prices underpinned is the fact that Saudi Arabia will not let the launch here turn into a disappointment. Give it a couple of weeks and I reckon we could get more of a true gauge of how oil prices will react to market conditions after.
