By Admin 
Aramco Shares Surge: Today, on March 9, a stormy rise is being seen in the shares of Saudi Aramco. In today’s trading session, the shares rose by almost 2 percent and reached their 52-week high level. This is the fifth consecutive rise after the rise in the last four sessions. This rise in shares came due to the increase in war between Iran and Israel, due to which the prices of crude oil are increasing across the world.
During trading today, the stock rose 1.7 percent to its highest level of the year at 27.4 SAR. Saudi Aramco’s stock has increased by about 6 percent in the last two sessions. Before this, in the last session also it had increased by 4.9 percent. However, after a slight decline, it closed with a rise of 4.1 percent. This was the strongest performance of Aramco shares since April 2023. This rise in shares came when the price of Brent crude at the global level increased by more than 25 percent to around $ 120 per barrel.
These are the reasons for the rise in shares
- Saudi Aramco is a very big oil company in the world. Obviously, if oil prices increase, the company’s profits will increase. In view of this, investors are showing interest in the shares of the company.
- Iran has closed the Strait of Hormuz amid Israeli and American attacks. However, Aramco has the ability to use pipelines and alternative routes to the Red Sea, which makes it different from other companies. This is also a reason for the strong confidence of investors in it.
- In times of crisis, investors like to invest money in something that will give them better returns. Since oil prices have increased and Aramco is an oil company, the money invested in it seems to be a ‘safe investment’ to the investors.
What does the company do?
Saudi Aramco is a government oil company of Saudi Arabia. It detects reserves of oil and natural gas under the ground or sea and then extracts them. After this, it is processed in the refinery and converted into petrol-diesel, kerosene and jet fuel and supplied to all the countries of the world including India.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
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