Shell Profits Rise as Oil Prices Surge

Shell profits climbed sharply in the first quarter as oil prices surged during the Middle East conflict, helping the energy giant beat market expectations.

The London-based company reported adjusted earnings of $6.92 billion, up 24% from a year earlier, as Brent crude volatility boosted oil trading, refining margins and energy market returns.

Middle East Conflict Drives Energy Volatility

The jump came as global energy markets were shaken by disruptions linked to the US-Israel-Iran war. Brent crude briefly moved above $126 a barrel before easing below $100, keeping fuel markets under pressure.

Officials said supply concerns intensified after disruptions in Qatar affected gas exports and Shell-linked operations, including its Pearl gas-to-liquids facility.

Qatar Gas Supply Disruption Hits Output

Despite higher earnings, Shell reported a 4% fall in oil and gas production from the previous quarter, showing how the same crisis that lifted prices also disrupted supply.

Chief executive Wael Sawan said Shell’s broad portfolio helped the company manage one of the most volatile periods for global energy markets in recent years.

Fuel Prices, Airlines and Consumers Feel the Impact

The oil price surge is already spilling into daily costs. Higher diesel, jet fuel and gasoline prices are increasing pressure on airlines, freight operators and households.

Shell also raised its dividend, but trimmed its share buyback plan, signalling caution as investors watch whether the energy crisis worsens or stabilizes.

For now, Shell’s earnings report shows a clear winner from oil disruption — but consumers and businesses are paying the price.