Hormuz vessel traffic fell 33% on Friday, while Brent settled 1% higher at $83.55. Saudi Arabia said a fire at Saudi Aramco’s Jazan refinery was extinguished Sunday with no injuries; the cause was not disclosed, and a Houthi attack claim remains unverified.
Saudi Aramco reported Q1 2026 adjusted net income of $33.6 billion, beating the analyst consensus of $31.2 billion by 7.7% and rising 26% year-over-year. CEO Amin Nasser credited the East-West Pipeline — now at maximum 7.0 million bpd capacity — for bypassing the Hormuz blockade and delivering crude to locked-out customers.