The oil market hopes the U.S. and Iran will strike a deal that could reopen the Strait of Hormuz and restore energy shipments.

LONDON, May ⁠7 (Reuters) - Shell's first-quarter adjusted earnings, its ​definition of net profit, rose to $6.92 ‌billion, the company ‌said on Thursday, beating ⁠an ⁠analyst consensus of $6.36 billion in a company-provided poll ​and up from $5.58 billion a year earlier.

The huge jump in earnings has some calling the company a war profiteer

The war with Iran has created a massive disruption to global oil supplies. Persian Gulf oil production has tumbled 57% from its pre-war level due to the closure of the Strait of H

The oil giant’s earnings in the first three months of the year were more than double the previous quarter’s and follow similarly strong results of European rivals.

Shell CEO Wael Sawan joins 'Money Movers' to discuss the company's latest earnings results, oil supply amid the Iran war, and more.

A shell corporation is an entity that exists primarily to hold funds and manage financial transactions without conducting active business operations. Legitimate reasons a shell corporation might exist include startups that use the business entity as a vehicle to raise funds, conduct a hostile takeover, or to go public.

Shell and third-party providers did not initially detect elevated levels of chemical emissions from the overnight fire.

London, May 7, 2026 'Shell delivered strong results enabled by our relentless focus on operational performance in a quarter marked by