The Iran war has pushed oil prices higher, delivering windfall profits to major energy companies. Saudi Aramco reported a 44 percent jump in quarterly net income on Tuesday, while BP posted its highest profits in four years.
Aramco said its net income reached 122.6 billion Saudi riyals ($32.7 billion) in the April-June period, up from 85 billion riyals ($22.7 billion) a year earlier. Chief executive Amin Nasser said the company had not seen any material operational or financial impact from the targeting of its facilities in July, and that it had maintained business continuity despite supply disruption through the Strait of Hormuz.
BP's profits also rose on higher oil prices, reaching a four-year high. Environmental groups accused the company of profiteering.
Analysts said the threat to oil tankers in the Middle East is the worst since the start of the war, with fresh attacks on alternative shipping routes leaving tankers facing an increasingly complex situation.