1) Saudi Aramco reports more than double of 2021 net profit
Saudi Arabia’s state-owned enterprise Aramco reported full-year profit in 2021 that was more than double compared to a year before.
2021 net profit came in at $110 billion, representing an increase by 124% year-on-year, mainly due to stronger refining and chemicals margins, and the consolidation of its chemicals business amid rising oil prices in 2021.
2) Oil bounces back after two weeks of losses
Oil prices surged more than 2% on Monday after posting two-straight weeks of losses as investors made some profit taking from the 8-year high of oil prices and also relaxing from the situation in Ukraine when both parties constantly meet for peace negotiations.
In the morning session on Monday, Brent crude rose 2.66% to $110.80 per barrel and West Texas Intermediate increased 2.78% to $107.62 a barrel.
3) Kyic refuses Moscow’s demand to surrender Mariupol
Ukraine reaffirmed its decision to not surrender Mariupol after Russia put more pressure on Kyiv, giving it a deadline until the early hours of March 21 to give its answer on surrendering the city. 10 million Ukrainians have reportedly fled their home since the launch of Russian attack.
