Anonymousabout 2 hours ago
Saudi Aramco reported Q1 2026 net income of $32.5 billion, a 25% year-over-year jump, driven primarily by surging oil prices after Iran's closure of the Strait of Hormuz and the company's ability to reroute exports through its East-West Pipeline to the Red Sea port of Yanbu. The profit surge masks significant structural constraints — the pipeline is already at maximum capacity, Yanbu-to-Asia freight costs have spiked 140%, and a drone attack in April exposed the corridor's vulnerability — raising questions about whether the gains are sustainable or a one-quarter windfall.