Tag: soaring oil and gas prices

Shell profits double as Middle East conflict pushes up energy prices
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This work by Middle East Monitor is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Rising fuel prices are seen on signs at gas stations in Berlin, Germany on March 11, 2026. [Halil Sağırkaya – Anadolu Agency]
British energy giant Shell said Thursday its quarterly adjusted net income doubled to $10.8 billion from $5.4 billion a year earlier, amid soaring oil and gas prices driven by the Middle East conflict, Anadolu reports.
The company’s reported net profit reached $12.1 billion, while revenue stood at nearly $93 billion, according to its latest quarterly financial results.
Energy prices rose amid attacks on refineries in the Middle East and Russia, as well as disruptions to shipping through the Strait of Hormuz and the Red Sea.
Reduced refinery output has tightened supplies of refined petroleum products, including gasoline and diesel, pushing up prices and benefiting energy trading companies such as Shell.
READ: Oil prices jump after US orders diplomats to leave Middle East
Shell also recorded higher revenue from liquefied natural gas as European gas prices climbed above €100 ($111) per megawatt-hour, reaching levels last seen during the 2022 energy crisis following the start of Russia-Ukraine war.
The higher profits are also expected to benefit Shell shareholders, as the company announced a $5 billion share buyback program and maintained its quarterly dividend. Shell shares were up more than 3% in mid-morning trading in London.
Shell’s surging profits also drew criticism from environmental campaigners.
“While the temperatures were breaking records, so were the oil companies’ profits too,” Greenpeace posted on social media platform Instagram, urging a global tax treaty on fossil fuel companies. “Their business model literally runs on disaster and that’s a deliberate choice: their profits are our loss.⁣”
READ: Trump accuses Iran of driving up oil prices ahead of midterms
Donald Trump calls for help from NATO allies in securing the Strait of Hormuz despite saying on 7 March 2026 that they don’t need people to join wars after they’ve already won. He’s challenged with the claim that he lies as much as the IDF.
UK Prime Minister Andy Burnham admits to blatently lying and engaging in deception to become leader of the UK Labour Party and Prime Minister. He asks who could possibly object to the IDF starving people to death, conducting forced marches like the Nazis did, bombing all Gaza’s hospitals and universities, mass-murdering journalists, healthworkers and starving people queuing for food, killing and raping prisoners and murdering children. He says they’ve got a genocide to do for Israel and to stop objecting
Ed Miliband says that he and the Labour Party are full of shit criminalising people holding signs as terrorists despite anything he says.
Greenpeace activists display a billboard during a protest outside Shell headquarters on July 27, 2023 in London. (Photo: Handout/Chris J. Ratcliffe for Greenpeace via Getty Images)
29 October 2026
‘We’ve got to have clean, homegrown power that we control’
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https://morningstaronline.co.uk/article/weve-got-have-clean-homegrown-power-we-control
People dispense fuel at the pump at Costco Petrol Station in West Thurrock, Essex. The conflict in Iran has caused a surge in oil and gas prices, March 5, 2026
Campaigners warn soaring oil and gas prices are pushing households into another cost-of-living crisis
TEN straight days of high oil and gas prices are pushing households into another cost-of-living crisis, campaigners warned today, as costs suffered from the US-Israel attack on Iran.
The warning came as Chancellor Rachel Reeves said she had asked the competition watchdog to “crack down” on “rip-off” fuel prices ahead of a meeting with energy bosses to warn against war profiteering.
Ms Reeves insisted she “will not tolerate” firms exploiting uncertainty in the Middle East for excess financial gain.
The government has promised to intervene if companies engage in “unfair” practices that would hit customers facing a rise in the price of home heating oil, which is not covered by Ofgem’s energy price cap.
Rural communities which rely on oil to heat their homes are already being hit hard, according to charity Rural Action Derbyshire (RAD), which runs an oil-buying scheme.
The heating oil market is closely connected to the daily market for jet fuel, meaning price rises are typically passed directly to customers.
RAD said homes in Derbyshire saw the cost of 500 litres jump from around £300 to £700-800 in the week after the conflict.
For an average household, 500 litres lasts two to three months.
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Article continues at https://morningstaronline.co.uk/article/weve-got-have-clean-homegrown-power-we-control
15 March 2026

Tag: soaring oil and gas prices

Shell profits double as Middle East conflict pushes up energy prices

‘We’ve got to have clean, homegrown power that we control’

Campaigners warn soaring oil and gas prices are pushing households into another cost-of-living crisis