Saudi Aramco profits jump despite conflict in Middle East

Saudi Arabia’s state oil company’s profits up 26% to £26.9bn in first three months of yearBusiness live – latest updatesSaudi Arabia’s state oil company reported a 26% jump in profits in its first quarter as its east-west pipeline allowed it to ship millions of barrels of oil out of the Gulf despite conflict in the Middle East.Profits at Saudi Aramco hit $33.6bn (£26.9bn) in the first three months of the year, while revenue rose nearly 7% compared with a year earlier to $115.5bn. East-west pipeline allows oil company to circumvent the Strait of Hormuz and keep pumping