Oil giant Saudi Aramco on Tuesday reported a $42.4 billion profit in the third quarter of this year, a 39% bump buoyed by the higher global energy prices that have filled the kingdom's coffers but helped fuel inflation worldwide.

The oil firm's profits will help fund the kingdom's assertive Crown Prince Mohammed bin Salman's plans for a futuristic city on the Red Sea coast, but also comes as the U.S. grows increasingly frustrated by higher prices at the pump chewing into American consumer's wallets.

Russia has suspended its part of the deal allowing Ukraine to ship grain from its Black Sea ports safely amid a monthslong war, and it appears that the remaining partners are now left to take their chances.

On Monday, Ukraine said a dozen ships had sailed despite initially reporting that more than 200 vessels, many loaded and ready to travel, were stuck after Russia's weekend announcement. Such exports are crucial: Ukraine and Russia are key global suppliers of wheat, barley, sunflower oil and other food to countries in Africa, the Middle East and parts of Asia where many are already struggling with hunger.

Inflation hit a new record in the 19 countries that use the euro currency, fueled by out-of-control prices for natural gas and electricity due to Russia's war in Ukraine. Economic growth also slowed ahead of what economists fear is a looming recession, largely as a result of those higher prices sapping Europeans' ability to spend.

Annual inflation reached 10.7% in October, the European Union's statistics agency, Eurostat, reported Monday. That is up from 9.9% in September and the highest since statistics began to be compiled for the eurozone in 1997.

The economies of Middle Eastern and North African countries were resilient this year, but double-digit inflation is expected to slow growth in 2023, the International Monetary Fund said Monday.

The IMF forecast GDP growth at 5% in 2022 for countries in the region. For oil-exporting nations, growth was projected at 5.2%, mainly due to high oil prices and robust GDP growth in other countries, which offset the impact of high food prices.

Saudi Arabia and the United Arab Emirates defended on Monday a decision by OPEC and its allies to cut oil production, even as an American envoy warned of "economic uncertainty" ahead for the world.

While cordial, the comments at the Abu Dhabi International Petroleum Exhibition and Conference showed the stark divide between the United States and Gulf Arab countries it supports militarily in the wider Middle East. Already, American politicians have threatened arms deals with the kingdom and described it as siding with Russian President Vladimir Putin amid his war on Ukraine.

The European Union on Sunday urged Russia to reverse its decision to suspend participation in a vital Ukraine grain export deal.

Ukraine's maritime grain exports were halted Sunday after Russia suspended its participation in a landmark agreement that allowed the vital shipments, blaming drone attacks on its ships in Crimea.

The German economy grew in the third quarter, an unexpectedly positive performance powered largely by private spending, official figures showed Friday. But the immediate outlook for Europe's biggest economy remained gloomy, with inflation rising again in October.

Gross domestic product expanded by 0.3% in the July-September period compared with the previous quarter, the Federal Statistical Office said. That followed a slight increase of 0.1% in the second quarter.

Elon Musk has taken control of Twitter after a protracted legal battle and months of uncertainty. The question now is what the billionaire Tesla CEO will actually do with the social media platform.

The New York Stock Exchange began the process Friday to delist Twitter. That means everyday investors will no longer be able to buy and sell stock in the company and Twitter would no longer be required to publicly reveal details of its quarterly or annual financial performance with U.S. regulators.

Oil companies brought in record profits once again as people worldwide struggled with high gasoline and energy prices.

Exxon Mobil broke records with its profits in the third quarter, raking in $19.66 billion in net income. The Irving, Texas company said Friday that it booked $112.07 billion in quarterly revenue, more than double the revenue it received last year during the same period.