{
  "id": 119003,
  "title": "Saudi Aramco CEO Nasser: Middle East crisis continues to aggravate supply shock",
  "url": "https://urgent.news/2026/08/04/saudi-aramco-ceo-nasser-middle-east-crisis-continues-to-aggravate",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-04T06:22:23.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/saudi-aramco-ceo-nasser-middle-east-crisis-continues-to-aggravate-historically-biggest-supply-shock-202608040622"
  },
  "original_language": "en",
  "account": null,
  "summary": "Saudi Aramco's CEO Amin H. Nasser stated that the ongoing Middle East crisis continues to aggravate the biggest supply shock in history. The crisis, which has been ongoing for over five months, has involved hostilities between the US and Iran, and has recently embroiled other countries in the region, including Iraq and Egypt, according to CNBC World.\n\nSaudi Aramco reported a 33% year-on-year increase in second-quarter profit, with adjusted net income of 125.2 billion Saudi riyal ($33.4 billion). The company attributed its ability to maintain business continuity to its diverse asset base and strategic infrastructure, such as the East-West Pipeline, which allowed it to bypass the Strait of Hormuz and maintain exports at a maximum capacity of 7 million barrels per day.\n\nThe conflict has had an impact on oil prices, with prices tumbling after US President Donald Trump called off a planned strike on Iran and OPEC+ boosted production for September, as reported by Euronews Business. Trump also announced that fresh talks with Iran would begin, covering the Strait of Hormuz and ultimately, the denuclearisation of Iran, according to Channel News Asia.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "Hellenic Shipping News",
        "title": "Asia-USWC container rates fall, rates to USEC steady to higher amid Middle East tensions",
        "url": "https://urgent.news/2026/08/02/asia-uswc-container-rates-fall-rates-to-usec-steady-to-higher-amid",
        "published": "2026-08-02T21:00:58.000Z"
      },
      {
        "outlet": "FXStreet",
        "title": "WTI holds losses near $79.00 amid Middle East peace talks, OPEC+ output expansion",
        "url": "https://urgent.news/2026/08/03/wti-holds-losses-near-79-00-amid-middle-east-peace-talks-opec-output",
        "published": "2026-08-03T00:44:02.000Z"
      },
      {
        "outlet": "Channel News Asia",
        "title": "Oil prices sink on Middle East hopes, yen extends gains after joint intervention",
        "url": "https://urgent.news/2026/08/03/oil-prices-sink-on-middle-east-hopes-yen-extends-gains-after-joint",
        "published": "2026-08-03T04:36:35.000Z"
      },
      {
        "outlet": "Euronews",
        "title": "BP profit more than doubles as Middle East conflict boosts oil prices",
        "url": "https://urgent.news/2026/08/04/bp-profit-more-than-doubles-as-middle-east-conflict-boosts-oil-prices",
        "published": "2026-08-04T09:33:17.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}