Saudia Aramco reports 25% jump in Q1 profit as Iran War reshapes oil market

Aramco, the world’s largest oil company, said Sunday its first quarter profit jumped 25% as the Iran war disrupted oil supplies and raised prices.

Dhahran, Saudi Arabia-based Aramco said it successfully shifted some oil exports to a pipeline to avoid the Strait of Hormuz, which has been disrupted by the war.

On Sunday, the price of Brent crude, the international standard, rose 2.58% to to $103.91 per barrel. That’s below its heights above $119 during the war, but it’s still much more expensive than its roughly $70 level from late February before the fighting began.

Aramco........

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