Commodities
Aramco Soars on Higher Oil Prices Amid US-Iran Conflict
Saudi energy giant Aramco reported a significant increase in its second-quarter net income, driven by the ongoing US-Iran conflict and subsequent oil price surge.
Aramco's net income reached $32.7 billion in the second quarter, up 44% from the same period last year, according to the company's latest announcement.
The firm's President and Chief Executive Officer Amin H. Nasser attributed the performance to an 'unprecedented supply disruption' caused by the geopolitical conflict.