Saudi Oil Giant Breathes Down Apple's Neck As World's Most Valuable Company

Thanks to the oil price rally this year, Saudi Aramco has become the world's second most valuable company in market capitalization terms, worth some $2 trillion, compared with Apple's $2.3 trillion, Bloomberg reports. There is more upward potential for the Saudi oil giant's share price, too, as the outlook on oil remains upbeat. The energy crunch that started in Europe only to spread to Asia and now looms over the United States, has made natural gas more expensive than oil on a barrel of oil equivalent, spurring greater demand for alternatives,…