Shl maintains profits despite market turmoil
Royal Dutch Shell PLC announced record profit margins in the refining sector during the third quarter, with the refining margin reaching $42 per barrel, up from $24 in the second quarter and exceeding its highest levels in 2022. This increase was driven by fuel supply disruptions from the Middle East and Russia, which led to a tighter global supply. The company's refineries operated at a utilization rate of 97%, despite the impact of low water levels in the Rhine River on transportation and refining activities. The quarter experienced sharp fluctuations in oil prices, with Brent crude trading between $71 and $100, providing extensive trading opportunities for the company. The results also indicated that the performance of the oil and gas trading division remained aligned with previous months. Following the announcement, Shell's shares rose by 0.9%, and the company capitalized on pressures on fuel supplies to achieve record profits amidst market disruptions.
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