| 24 May 2024, Friday |

Aramco shares rise to record high as oil tops $100 for first time since 2014

Saudi Aramco’s stock rose as much as 4.2 percent to a new high of 42.25 riyals ($11.26) on Thursday, as oil prices surpassed $100 per barrel after Russia’s invasion on Ukraine.

Brent crude rose above $100 a barrel for the first time since 2014, raising fears that a European conflict could disrupt global energy supply.

Aramco’s stock is up for the third day in a row, giving it a year-to-date gain of more than 16 percent. In afternoon trade, Saudi Arabia’s benchmark index was down 2.2 percent.

  • alarabiya