RIYADH, 7 March 2005 — Saudi shares closed at a new life high yesterday, driven by strong oil prices and interest in industrial and service firms, analysts said. The official share index of the largest Arab bourse closed at 9,336 points, up 0.19 percent on Saturday’s close. It had touched 9,386 during early yesterday trading. “The high price of oil is the core reason for the rise,” said Syed Fawad Ali, equity economist at Consulting Center for Finance and Management.