Shell profits double as Iran war drives oil prices higher

Shell's second-quarter profits more than doubled to $9.84bn, driven by soaring oil prices due to the Iran war disrupting supplies through the Strait of Hormuz. The energy giant's first-half earnings surged 70%, boosted by trading on price swings. However, production fell 16% amid damage to facilities in Qatar. Environmental groups condemned the profits as the climate crisis worsens.