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Sign InAmid escalating geopolitical tensions reshaping global energy markets, Shell's profits have doubled following a sharp rise in oil and liquefied natural gas (LNG) prices. According to reports, this robust growth was driven by supply disruptions in the Strait of Hormuz, a critical maritime chokepoint impacted by the conflict involving Iran, which pushed global benchmarks higher during the period.
Despite operational challenges, including damage to facilities and production shutdowns in Qatar due to the conflict, the company's trading operations and growth in regions like Brazil bolstered results. Per market data, energy majors have benefited from price volatility, with Shell maintaining strong operational performance during a quarter defined by severe disruptions in global energy markets.
Shares of SHEL.L stood at 3234.50p at the close of July 28, 2026, having reached a day high of 3276.50p. Traders are closely monitoring developments regarding the potential reopening of the Strait of Hormuz as a future catalyst for oil prices, while global markets await upcoming Purchasing Managers' Index (PMI) data from major economies to gauge future energy demand.