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#aminnasser — Public Fediverse posts

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  1. US Top News and Analysis | Saudi Aramco Q1 profit jumps 26% as key pipeline reaches capacity amid Iran war

    AI generated summary, Read the full article for complete information.

    Saudi Aramco reported a 26% year‑on‑year rise in first‑quarter 2026 adjusted net income, reaching $33.6 billion and surpassing analyst forecasts, with a 34% increase over the prior quarter. The surge was driven by its East‑West pipeline achieving full capacity of 7 million barrels per day, which helped offset the loss of nearly a billion barrels of oil caused by Iran’s blockade of the Strait of Hormuz. The company posted a gearing ratio of 4.8% and approved a $21.9 billion base dividend, up 3.5% year‑on‑year. Meanwhile, Brent crude futures rose about 1% to $101.29 per barrel and WTI settled at $95.42, reflecting heightened market tension as Iran fired missiles at the UAE and the U.S. targeted Iranian tankers.

    Read more: cnbc.com/2026/05/10/saudi-aram

    #SaudiAramco #AminNasser #East_Westpipeline #Iran #Brentcrude