What were Shell's second-quarter net profits, and how do they compare to the same period last year?

Shell's net profit for the second quarter of the year was $9.84 billion (£7.4 billion), more than double its net profit from the same period last year.

What factors drove Shell's profit surge, and what impact did the Middle East conflict have on global energy markets?

Shell's profit surge was driven by soaring wholesale energy prices triggered by the war in the Middle East, which caused severe disruption in global energy markets and boosted profit margins and trading activity; oil prices climbed from about $61 a barrel in January to highs of $126 at the end of April due to disruptions to oil and gas flows through the Strait of Hormuz.

Shell’s Profits More Than Double After Jump in Oil and Gas Prices

Jul 30, 2026

Shell doubled its Q2 profit to $9.84bn as oil and gas prices surged due to Middle East conflict. Meanwhile, a strike at its Qatar LNG plant cut production by 30%, sparking environmental calls for windfall taxes.

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