Aramco Profit Surges 44% Amid Middle East Conflict

Aramco's net profit surged by 44% in the second quarter of the year due to increased energy prices caused by Middle East conflict. The company reported a net profit of 122.6 billion Saudi riyals between April and June, compared with 85 billion riyals during the same period last year.

Aramco CEO Amin Nasser attributed the company's ability to maintain operations despite disruptions in oil supplies through the Strait of Hormuz to its reliance on the East-West pipeline, storage facilities, and export terminals.

The result comes a day after US President Donald Trump criticized major oil companies for profiting from higher energy prices caused by the conflict in the Middle East and called on them to lower prices.