US Markets
Home›US Markets›Sectors›Shell posts best quarterly profit in four years on hig…
Shell posts best quarterly profit in four years on higher oil and gas prices
CNBC reports the profit surge is tied to the Iran war pushing up fossil fuel prices, benefiting energy majors.
Shell has posted its best quarterly profit in four years, as higher oil and gas prices helped lift results, according to CNBC Markets.
The outlet attributes the bumper outcome to a wider jump in fossil fuel prices amid the Iran war, a tailwind that has supported profits across the energy sector.
CNBC World describes the same setup, saying energy majors are seeing a profit boost as crude and gas prices rise in response to the conflict.
Latest closeWTI crude $84.41 ▲6.5%
← Newer storyChina sets October date for 20th Central Committee plenumOlder story →Bitcoin wavers near $64,000 after Fed holds rates with a hawkish tone