British energy giant Shell has posted its biggest quarterly profit in four years. The company earned $9.84 billion between April and June. That figure beat analysts’ prediction of $8.79 billion. Higher oil and gas prices helped drive the strong result. The price increase followed growing tensions and conflict involving Iran in the Middle East. As a result, Shell enjoyed its best quarter since 2022.
Shell also performed much better than last year. The company made $4.26 billion during the same period in 2025. It also earned $6.92 billion in the first quarter of 2026. Speaking on CNBC’s Squawk Box Europe, CEO Wael Sawan said,
“Volatility is the new normal.”
He added,
“What we have been trying to build is a company that is able to thrive through volatility.”
Sawan explained that high oil prices gave Shell a strong boost. However, he also praised the company’s strong operations and smart trading strategy.
Meanwhile, Shell announced another $3 billion share buyback for investors. Cash flow from operations reached $21.4 billion, thanks to better oil and gas prices. The company’s net debt also dropped sharply. It fell from $52.6 billion to $41.75 billion. In addition, Shell kept its 2026 spending plan unchanged. The company expects to spend between $24 billion and $26 billion this year.
The strong earnings came as global energy companies benefited from rising fossil fuel prices. The latest increase followed fresh military action in the Middle East. The United States recently carried out new airstrikes after reported Iranian attacks on American forces.
Following the announcement, Shell’s shares rose 1.5% in London. The stock has also gained about 21% this year. Energy analyst Maurizio Carulli described the results as “very strong.” He said Shell’s trading business, refining operations, and production growth in Brazil helped deliver another impressive performance.
