Saudi oil giant Aramco (ARMCO) reported a sharp rise in Q1 profit as surging crude prices and expanded pipeline usage helped offset disruptions linked to the Strait of Hormuz crisis. Its Q1 adjusted net income was up about 26% to $33.

Saudi Aramco’s boss warned of a long disruption to oil markets from the near closure of the Strait of Hormuz, while the company reported a jump in profit following higher prices and its ability to red...

"Our East-West Pipeline, which reached its maximum capacity of 7.0 million barrels of oil per day, has proven itself to be a critical supply artery, helping to mitigate the impact of a global energy s...