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The Shell gas logo is displayed at a gas station on April 27, 2026 in Austin, Texas. Shell has agreed to purchase Canadian energy company, ARC Resources in a deal valued at $16.4 billion.
Brandon Bell | Getty Images News | Getty Images
British energy major Shell on Thursday reported stronger-than-expected second-quarter profit, benefitting from the jump in oil and gas prices amid the sprawling Middle East conflict.
The oil giant posted adjusted earnings of $9.84 billion for the April to June period, comfortably beating analyst expectations of $8.79 billion, according to an LSEG-compiled consensus. A separate, company-provided analyst forecast had put Shell's expected second-quarter profit at $8.92 billion.
Shell reported adjusted earnings of $4.26 billion over the same period a year ago and $6.92 billion over the first three months of 2026.
The bumper result comes as energy majors receive a profit boost from soaring fossil fuel prices amid the Iran war. The U.S. on Wednesday launched its first airstrike in the Middle East since pausing its bombing campaign last week.
U.S. Central Command described the strikes as a "powerful response" to Tuesday's attempted Iranian attacks on American forces in the Middle East.
London-listed shares of Shell have jumped around 21% so far this year, although the company lags the likes of Britain's BP and France's TotalEnergies, as well as U.S. majors Exxon Mobil and Chevron.
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