Shell Plc reported a jump in second-quarter profit, driven by a boom in oil refining and a robust period for energy trading.
The result comes as the Iran war has upended the market, leading to soaring fossil fuel prices that have boosted profits for energy majors. Prices have been pushed higher due to disruptions to global supplies of oil and liquid natural gas through the Strait of Hormuz.
Strong trading performance and higher prices stemming from the conflict in the Middle East have further enabled the energy major to maintain its quarterly buyback.