Saudi state oil company reports jump in profits despite attacks; Australian central bank lifts rates – business live
Iran war reduces Aramco’s output but this has been offset by higher oil prices Virgin Media O2 is to cut thousands of UK jobs in an £800m cost-cutting drive as the telecommunications company aims to tackle its £22bn debt pile. VMO2, which is jointly owned by the British-Dutch-American telecoms company Liberty Global and Spain’s Telefónica , said £300m of the savings target will come from job cuts…
The Saudi state oil company, Saudi Aramco, reported a significant increase in profits despite attacks on its facilities. The world's top oil exporter posted a net profit of $3.25 billion in the third quarter of 2026, up from $26.9 billion a year earlier. While Iran's war reduced Aramco's output, higher oil prices have offset this decline.
Brent crude, the global oil benchmark, rose 1.7% to $106.55, following a US strike on Iran's Qeshm Island. The UK's FTSE 100, Germany's Dax, France's CAC 40, Italy's FTSE MiB, and Spain's Ibex all experienced declines, with Brent crude trading higher after a brief dip. Australia's central bank raised interest rates for the fifth time in 2026, reaching 4.85%, aiming to bring inflation to target.
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Also reported by 8 other outlets
- Saudi Aramco profits jump 35% despite attacks on oil facilities euronews.com
- Saudi Aramco Q3 net profit rises 34.5% as higher oil prices offset lower volumes businesstimes.com.sg
- Higher oil prices boost Saudi Aramco profits despite disruption from attacks winnipegfreepress.com
- Saudi Aramco profits surge 34.6% in third quarter freemalaysiatoday.com
- Aramco posts 34.5% rise in third-quarter profit despite attacks brecorder.com
- Aramco posts 34% jump in Q3 profit despite attacks on energy infrastructure thenationalnews.com
- Despite attacks, Saudi Aramco posts 34% rise in net profits in latest quarter france24.com
- Aramco's profit rises as refining margins strengthen amid Iran war cnbc.com
