Shell Profits Soar as Oil Prices Skyrocket Amid Iran War Tensions

Oil giant Shell saw its profits more than double in the second quarter of the year due to rising oil prices caused by the Iran war. The company's earnings for April to June reached $9.84 billion, up from $4.26 billion at the same point last year.

The price of oil has surged since the US-Israel conflict with Iran began, disrupting global supplies through the Strait of Hormuz and sending Brent crude prices above $120 a barrel. However, these prices have also fallen below $100 as speculation swirls over when the Strait will reopen.

Shell's chief executive Wael Sawan attributed the company's 'operational performance' to its strong results during a period of severe disruption in global energy markets.