BBC News
· collected 2026-07-30 · by Jennifer Meierhans, Shanaz Musafer
Shell, a major oil company, has seen its profits more than double to $9.84bn in the second quarter of the year due to increased oil prices caused by the Iran war. The price of Brent crude oil rose from around $73 per barrel before the conflict began to over $120. Shell's trading business also saw significant gains as energy prices fluctuated wildly during the conflict. Environmental campaigners criticized Shell's profits, saying they were built on an energy crisis that has left households struggling with high energy bills.
Written by the local model on 2026-08-21,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
Shell's profits have more than doubled to $9.84bn (£7.37bn) in the second quarter of the year due to the Iran war pushing up oil prices. The price of crude rose since the US-Israel war with Iran began, causing disruptions to global supplies through the Strait of Hormuz. Energy prices have seen sharp swings during the conflict, which has boosted Shell's trading business. In addition to its strong second-quarter results, Shell also saw a 70% surge in first-half earnings when combined with its profits for the first three months of the year. The price of Brent crude oil has fluctuated significantly since the conflict began, peaking at over $120 per barrel but falling back below $100 per barrel** as speculation about the Strait's reopening continues to impact markets.
Written for “Oil Price Hike Due” on 2026-08-31,
grounded in this article and the 0 other(s) covering the same event.
Why this leaning score
The article uses phrases such as 'bumper profits' and 'stands out as a steady ship', which suggests a generally positive framing of Shell's financial performance. However, this is somewhat tempered by criticism from environmental campaigners, indicating some attempt to balance perspectives.
Written under an earlier scoring contract, which gave a paragraph
rather than checkable quotes. Re-analysing this article replaces it.
Leaning score +0.45 for article 60 · logged 2026-07-30
- Published
Shell's profits for the second quarter of the year have more than doubled after the Iran war pushed up oil prices.
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war → double → prices
The oil giant posted profits of $9.84bn (£7.37bn) for the April-to-June period, up from $4.26bn at the same point last year.
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giant → post → point
The price of crude has risen since the outbreak of the US-Israel war with Iran due to major disruption to global supplies of oil and liquefied natural gas (LNG) through the Strait of Hormuz.
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price → rise → Hormuz
But energy prices have also seen sharp swings during the conflict, which has boosted Shell's trading business.
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which → see → business
Shell chief executive Wael Sawan said the company's "operational performance enabled very strong results during another quarter of severe disruption in global energy markets".
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performance → say → markets
Together with its profits of $6.92bn for the first three months of the year it means Shell has seen a 70% surge in first-half earnings.
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Shell → mean → earnings
Shell and other energy giants such as BP and Norway's Equinor have seen bumper profits this year, partly down to trading on oil price swings.
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Shell → see → swings
Before the conflict began, the price of Brent crude, the global benchmark for oil prices, was around $73 a barrel.
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price → begin → prices
Since then, it has peaked above $120 but also fallen back below $100 as speculation has swirled over when the Strait of Hormuz will reopen.
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Strait → peak → Hormuz
These big movements in the oil price can widen the gap between buying and selling prices which typically enables traders to make bigger profits.
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which → widen → profits
However, the conflict in the Middle East has also affected some of Shell's operations.
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conflict → affect → operations
Its LNG production in Qatar has been shut down since early March because of the conflict, and its Pearl gas-to-liquids facility in Qatar suffered "extensive damage" when it was hit by a missile attack in March.
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it → shut → March
The company has said repairs could take about a year.
uncertain
repairs → say → year
Overall gas production fell to 631,000 barrels of oil equivalent per day for the April to June period, from 909,000 barrels per day in the first quarter, the firm said.
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firm → fall → quarter
Total oil and gas production in the first half of the year fell 16% compared with the first half of 2025, although Shell did point to new oil production in Brazil and the Gulf of America.
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Shell → fall → America
"The standout contribution came from Shell's trading operation, which once again demonstrated the value of its integrated business model, supported by healthy refining and chemicals performance and robust production growth in Brazil," said Maurizio Carulli, global energy analyst at Quilter Cheviot.
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Carulli → come → Cheviot
"[Shell] remains a steady ship in an industry where conditions can change rapidly."
However, environmental campaigners reacted with anger to the latest results.
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campaigners → remain → results
"With extreme heatwaves and wildfires hitting the UK and ravaging Europe, it's outrageous that Shell is making huge profits while continuing to fuel the climate crisis," said Friends of the Earth energy campaigner Danny Gross.
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Gross → hit → Earth
"These profits have been built on an energy crisis that's left households across the country struggling with high energy bills at home and expensive fuel at the pumps.
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that → build → pumps
This underlines the urgent need to end our dependence on costly oil and gas."
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This → underline → oil
