Saudi Aramco profits jump despite conflict in Middle East

Saudi Aramco reported a 26% jump in profits despite the Middle East conflict, reaching $33.6 billion, utilizing its east-west pipeline to maintain stable oil supply amidst the disruption at the Strait of Hormuz. Global energy prices surged with Brent crude reaching $100 a barrel, and Aramco anticipates market normalization in 2027 if trade flows resume immediately. This follows intermittent fighting and a pause in a US naval mission aimed at opening the waterway.