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Shell tops profit estimates as Iran war boosts oil price, cuts share buybacks - CNBC
Overview
Shell reported stronger-than-expected quarterly profit as the regional conflict pushed fuel and crude prices higher and altered capital plans. A new analysis shows Shell — along with BP and TotalEnergies — also captured billions more via trading desks as volatility surged, indicating part of the profit increase came from market trading rather than only higher refining or production margins. Together with peers' results, this underscores how the conflict and shipping disruptions are translating into sector earnings and strategic shifts.
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