NIS Swings to Profit on Rising Oil Prices

Serbia's state-owned oil company NIS has reported a profit in the first half of the year due to rising oil prices. The company's net profit reached €85 million, up from a loss of €34 million in the same period last year.

This marks a significant turnaround for NIS, which had struggled with declining profits and a weak global market. The improvement is largely attributed to higher crude oil prices, which have increased by 35% year-over-year.