ARAMCO reported Q2 adjusted net income rose 33% to $33.4bn from $25.2bn a year
earlier, beating analysts' $31.1bn forecast. The company said it benefited from
war-driven oil-price spikes — Brent averaged about $97/bbl in Q2 — and from
maintaining exports via pipelines that bypass the Strait of Hormuz after the
strait's closure caused one of the most severe oil-supply disruptions on record.
ARAMCO has rerouted most exports through the Red Sea but faces new risk after
Yemen's Houthi militants threatened attacks on tankers using that route.
