Saudi port city and Aramco hub on the Persian Gulf
Oil majors have posted strong quarterly profits amid continued volatility from the Iran-U.S. conflict and the Hormuz Strait. Aramco and European peers report multi-billion results, while policymakers and markets watch for potential windfall taxes and supply routes.
Oil prices have climbed with Brent above $95 and WTI near $93 as fighting in the Middle East continues to disrupt shipping routes. Analysts say supply fears and demand shifts, particularly from China, are shaping the rally. Markets are also awaiting inflation data and policy signals as bond yields rise globally.
Oil prices have fallen after data showed Asia is set to import its highest monthly crude volume since the US–Iran war began, while traders continue to monitor UN‑level diplomacy and regional tensions. Brent has slipped near $102 a barrel and U.S. crude is trading in the low $90s as markets weigh rising Asian flows against Middle East risks.