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Oil Prices Soar Amid Iran War, BP and Saudi Aramco Reap Massive Profits

Guavy AI Editorial Team
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Oil
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The Iran war has led to soaring oil prices, causing profits for global giants like BP and Saudi Aramco to skyrocket.

BP reported a net profit after tax of $3.91 billion in the second quarter, more than double its earnings from the same period last year.

Saudi Aramco posted a 44% increase in net income to $32.7 billion, topping analyst forecasts.

The companies attributed their gains to disruptions in global fossil fuel supplies caused by the war.

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