BREAKING: Saudi Aramco just posted a 25% jump in profit, earning $38.4 billion in a single quarter because of the war.
That is $420 million in profit every single day.
Total revenue climbed to $115.49 billion, up 11.4% from the previous quarter. The entire surge comes down to one thing, Brent crude climbing above $100 a barrel because of the US-Iran war and the Strait of Hormuz being effectively shut for over 70 consecutive days.
The country that sits on the world's largest oil reserves is generating record profits directly because of a war being fought by its biggest customers.
Every day the Strait stays closed, every day oil stays above $100, Saudi Aramco collects $420 million.