Shell’s Profits More Than Double After Jump in Oil and Gas Prices The news that Shell has more than doubled its profit in the second quarter of this year should come as no surprise, given the dynamics of global energy markets.
The war in the Middle East has disrupted oil flows through the Strait of Hormuz, sending prices soaring. Shell's profits have skyrocketed to $9. 84 billion in just three months.
The conflict in the Middle East is often cited as a reason for rising energy costs, but this conveniently masks the company's massive windfalls.