Commodities
Shell's Q2 Earnings Surge on Higher Oil Prices Amid Strait of Hormuz Closure
Shell's Q2 2026 earnings beat expectations by $920 million, reaching $9.84 billion, up from $4.26 billion in Q2 2025.
The company maintained its quarterly share buyback of $3.0 billion and saw a significant increase in LNG trading margins due to supply route disruption.
The Strait of Hormuz closure had a two-sided impact on Shell's operations, generating earnings windfalls from higher crude oil prices and trading margins, but also creating operational impairments, including the cessation of production at its Pearl gas-to-liquids facility in Qatar.