Shell sees half-year earnings soar to £12.6bn on Iran war oil price volatility

Shell has more than doubled its second-quarter net profit, reaching $9.84bn (£7.4bn) compared to £3.19bn during the same period last year. This surge is attributed to oil and gas price increases caused by the Iran war and supply disruptions through the Strait of Hormuz. Half-year earnings soared to £12.6bn. Consequently, environmental groups are renewing calls for a windfall tax to support households, as the FTSE 100 company benefits from global energy market volatility.