Saudi Aramco loses $200bn since IPO on US-Iran tensions

Pedro Gonçalves
clock • 1 min read

Saudi Aramco shares have tumbled 10% from their peak levels less than a month after IPO, wiping more than $200bn off the company's market value as the US killing of Iran's most senior military commander reverberated through Middle Eastern markets. Last week the US ordered a drone strike which killed Iran's most powerful general Qassem Soleimani and caused crude oil futures  to briefly top $70 over fears of supply issues. However, Saudi Aramco did not benefit because of investors' concerns about its proximity to the Middle East. Investors are worried that Iran, which counts Saudi Arabi...

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