BP and Shell Report Profit Jumps as Iran-War Oil Price Surge Boosts Earnings
BP and Shell both posted large profit increases this quarter, driven mainly by an Iran-war-led surge in oil and gas prices. BP reported $5.73 billion profit and $9.84 billion adjusted earnings, while Shell logged its best quarter since 2022. Despite strong results, Trump criticized oil majors’ windfalls, and Shell’s stock gain trailed some U.S. peers.