Energy prices have swung wildly since the start of the conflict, while Brent crude has risen back above $100 a barrel since the ceasefire came into effect on 8 April.
The Strait of Hormuz, through which about a fifth of global oil and gas shipments usually passes, has been effectively shut after Tehran threatened to attack vessels that try to cross it in retaliation against US-Israeli strikes.
Major energy companies have seen their profits jump as prices of oil and gas have soared on global markets.
On Sunday, Aramco said its earnings had jumped by more than 25% in the first three months of the year compared to the same period in 2025.
The Saudi Arabian energy giant’s cross-country pipeline has “proven itself to be a critical supply artery” and helped it avoid disruptions to shipping caused by the Iran war, said Aramco boss Amin Nasser.
Last month, BP reported that its profits for the first three months of the year had more than doubled, while Shell announced last week that its earnings had jumped.