Shell's first-half profit jumps 70% as Middle East strikes squeeze supply
BBC—Shell's first-half profit rose 70% year-on-year, driven largely by a surge in oil and gas prices tied to escalating Middle East conflict. A missile strike on Qatar's Pearl gas-to-liquids plant knocked out LNG output in March, with repairs expected to take about a year — a supply disruption that has kept prices elevated even as broader conflict continues. That tailwind may be fading, however: crude prices have begun easing as the US and Iran pause hostilities, a shift that could pressure Shell's margins in the second half if it holds. The results underscore how directly energy-major profits are tied to the trajectory of the regional conflict rather than to underlying demand growth.
- BBC — Qatar LNG output shut since March after the missile strike on the Pearl plant … repairs to take about a year
- Drudge Report — Energy company profits surge as global conflicts drive oil prices upward
- CNBC — Energy company profits surge as global conflicts drive oil prices upward
- Associated Press — oil prices now easing as US and Iran pause their attacks — a reversal of the trend driving Shell's gains