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

Published 02/24/2022, 04:55 AM
Updated 02/24/2022, 05:52 AM
© Reuters. FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo
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DUBAI (Reuters) - Saudi Aramco (SE:2222) shares surged as much as 4.2% to a record high 42.25 riyals ($11.26) on Thursday as oil prices breached the $100 a barrel after Russia attacked Ukraine.

Brent crude topped $100 a barrel for the first time since 2014, exacerbating concerns that a war in Europe could disrupt global energy supplies.

Shares of Aramco are up for a third consecutive day and have gained more than 16% year to date. Saudi Arabia's benchmark index was down 2.2% in afternoon trade.

($1 = 3.7517 riyals)

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