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

DUBAI – Saudi Aramco 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)

(Reporting by Maqsood Alam in Bengaluru; editing by Jason Neely)