CNBC·3 min read·medium
Aramco second-quarter profits jump as Iran war squeezes supplies
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Sam Meredith
✦AI Summary
Saudi Aramco reported a 33% increase in second-quarter profits, reaching $33.4 billion despite supply chain disruptions caused by the ongoing conflict between the U.S. and Iran. The company successfully maintained export levels by utilizing its East-West pipeline to bypass the Strait of Hormuz.
Saudi Aramco on Tuesday reported a jump in second-quarter profit, following a period of severe disruption through the Strait of Hormuz amid the sprawling Middle East conflict.
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