Aramco's Q2 Profit Jumps 33% on War-Driven Oil Prices

Saudi Aramco's second-quarter profit rose by 33% to $33.4 billion, driven by high oil prices and steady exports through a pipeline bypassing the Strait of Hormuz.

The company's adjusted net income climbed from $25.2 billion in the same period last year, with Brent crude averaging nearly $97 a barrel during the quarter.

Aramco met the moment by rerouting most of its exports through the Red Sea instead, a shift that helped drive the windfall.

Refined products added to the gains, with prices for diesel and jet fuel surging and frequently outpacing crude itself, even after Brent slipped back below $75 a barrel following an interim US-Iran peace deal.