Did it reach highest quarterly profits in four years
British oil and gas company Shell achieved a quarterly profit of $9.84 billion from April to June, marking the strongest results in four years. This came as the company benefited from rising fuel prices due to the ongoing war in the Middle East between the United States and Iran. The performance exceeded analysts' expectations, which had forecasted $8.79 billion, and reflects the company's success in an increasingly volatile market environment that has become the new normal. Among the key results, the company recorded a cash flow from operations of $21.4 billion and reduced its net debt to $41.75 billion, with a commitment to repurchasing $3 billion worth of shares in the upcoming quarter.
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