Argentina's YPF Q2 profit slumps nearly 90% on lower fuel prices
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Argentina's state-controlled energy company YPF reported a nearly 90% drop in Q2 net profit to $58 million, impacted by lower fuel prices. Revenues fell 6% to $4.64 billion, with adjusted EBITDA at $1.12 billion, down 7% year-on-year. Brent crude prices averaged $67 per barrel, contributing to a 10% decline in upstream sales. The results come amid a legal battle over YPF's ownership following a U.S. court ruling related to a $16.1 billion judgment from a 2012 expropriation.
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