Shell profits double as oil prices rise due to Iran war
Shell's profits for the second quarter of the year have more than doubled after the Iran war pushed up oil prices. The oil giant's profits
Shell's profits for the second quarter of the year have more than doubled after the Iran war pushed up oil prices. The oil giant's profits for the April-to-June period reached $9.84bn (£7.37bn) - up from $4.26bn at the same point last year.
The price of oil has soared since the outbreak of the US-Israel war with Iran due to major disruption to global supplies of oil and liquid natural gas (LNG) through the Strait of Hormuz.
Shell chief executive Wael Sawan said the company's "operational performance enabled very strong results during another quarter of severe disruption in global energy markets". Together
with its profits of $6.92bn for the first three months of the year it means Shell has seen a 70% surge in first-half earnings.
The BriefWire