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 pricesGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.The Saudi state oil company Saudi Aramco has reported that profits rose by more than a third in the latest quarter despite attacks on its facilities.Geopolitical uncertainty and attacks on key energy facilities continued to amplify the global energy supply crisis in the third quarter of 2026, with serious implications for global energy security. Despite challenges, the unwavering dedication of our workforce, our operational excellence, the flexibility of our system, and the strength of a supply network built over decades enabled us to continue delivering reliably to our customers through this extraordinary period.We continue to explore additional overseas storage capacity and alternative export routes to further strengthen our global supply network, and our robust operational and financial performance during this volatile period demonstrates the value of our resilience. Continue reading...