Saudi Aramco Rides War-Driven Oil Price Surge

Saudi Aramco has reported a significant surge in profits for the second quarter, thanks to rising oil prices caused by the conflict with Iran.

The state-owned oil company benefited from higher prices for crude oil, fuels, and chemical products, as well as its ability to bypass the blocked Strait of Hormuz using a pipeline within Saudi Arabia.

Adjusted for one-time items, profits climbed by a third year-over-year to 125 billion riyals (27 billion francs), exceeding analysts' expectations.