Shell's second-quarter profits more than doubled to $9.84bn from $4.26bn a year earlier, propelled by a sharp rise in oil prices triggered by the outbreak of the US-Israel war with Iran, according to BBC Business.
Quarterly Earnings Surge
For the April-to-June 2026 period, Shell's adjusted earnings reached $9.84bn, more than double the $4.26bn recorded in the same quarter of 2025. Combined with first-quarter profits of $6.92bn, Shell's first-half earnings totalled $16.76bn — a 70% surge compared with the previous year's first half, as reported by BBC Business.
| Metric | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Adjusted earnings | $9.84bn | $4.26bn | +131% |
Geopolitical Supply Disruption
The dramatic increase in profits is directly linked to the geopolitical crisis in the Middle East. The war between the US and Israel against Iran has caused "major disruption to global supplies of oil and liquid natural gas (LNG) through the Strait of Hormuz," according to BBC Business. The Strait of Hormuz is a critical chokepoint for global energy flows, and the conflict has sent crude prices sharply higher, boosting revenues for major oil producers like Shell.
Operational Strength and Outlook
Shell CEO Wael Sawan attributed the strong performance to the company's operational resilience. In a statement quoted by BBC Business, Sawan said:
"Our operational performance enabled very strong results during another quarter of severe disruption in global energy markets."
The company's ability to maintain production and capture higher prices underscores the importance of diversified supply chains in times of conflict. For commodity traders and energy market analysts, the situation highlights the continued vulnerability of oil and LNG supply routes and the potential for sustained price volatility as the conflict in the Middle East evolves.
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