What did Shell report about its oil and gas trading performance in the second quarter, and what factor did it attribute this to?

Shell Plc signaled it had 'another strong oil and gas trading result in the second quarter' and attributed this performance to 'the market turmoil caused by the Iran war'. Specifically, it stated that oil trading profits were 'in line with a strong first quarter' while gas trading results were 'significantly higher'. The company noted that traders often profit when markets are volatile.

How did Brent crude prices behave during the quarter, and what does this indicate about market conditions for Shell's trading operations?

Brent crude, the international benchmark, 'spiked above $126 a barrel at the end of April before slumping more than 40% to trade around $72 since the end of June'. This sharp volatility — a steep price surge followed by a dramatic decline — reflects the turbulent market conditions Shell referenced, reinforcing why its trading unit benefited, as 'traders often profit when markets are volatile'.

Shell Signals Strong Oil and Gas Trading Profit on Iran War

Jul 6, 2026

Shell reported strong second-quarter oil and gas trading profits driven by market volatility linked to the Iran war. Gas trading results were notably higher despite crude price fluctuations ahead of upcoming earnings releases.

bloomberg

2025-10-30

Shell chemical losses widen amid sustained weak margins

2026-01-09

Shell Flags Weak Margins, 'Significant' Chemicals Loss in Q4

2026-01-29

SCG Chemicals Posts Sales Decline and Loss

2026-02-05

Shell Weighs Plant Shutdowns as Chemical Losses Widen to $1.1B

2026-02-10

Shell Chemical Division Posts $589 Million Quarterly Loss