Saudi Aramco Shares Rise Amid Iran Conflict and Oil Supply Disruptions

Shares of Saudi Aramco surged up to 4.9% on Sunday, marking their largest increase since April 2023, amid escalating conflict involving Iran that has disrupted oil supply routes near the Strait of Hormuz. Brent crude prices topped $90 per barrel as the United Arab Emirates and Kuwait reduced production. Aramco has been rerouting shipments to Red Sea ports to mitigate export challenges. Analysts expect oil prices to rise further if tensions persist.