NewsMV
Second-quarter profit at Shell (SHEL) more than doubled, clearing market expectations by a wide margin.
The catalyst is the Iran war, which has driven fossil fuel prices sharply higher and generated a broad profit boost across the energy major sector.
Shell's result is a clear illustration of what the conflict-driven price environment has done to integrated major earnings in Q2. The print Profit more than doubled in Q2.
That scale of move goes well beyond what a routine commodity-price recovery typically delivers, and it explains the degree to which the result exceeded market expectations.
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