Aramco Sees Record Earnings Amid Strait of Hormuz Disruption

Saudi Aramco reported record Q2 earnings, with net profit soaring 44% to $32.69 billion and adjusted net income rising 33% to $33.4 billion.

The state-owned energy giant capitalized on war-inflated crude prices and successfully rerouted shipments away from the disrupted Strait of Hormuz, which led to Brent crude averaging nearly $97 per barrel during the quarter.

Aramco's integrated business model proved resilient, with operating income jumping 30% to $57.64 billion from $44.56 billion in the prior year.