British energy firm Shell plc has reported a sharp rise in earnings for the first quarter of 2026, driven by stronger oil and gas prices amid ongoing conflict in the Middle East.
The company posted a net profit after tax of $5.69 billion between January and March, up from $4.78 billion recorded in the same period of 2025.
The increase reflected heightened volatility in global energy markets, which pushed up crude oil and gas prices during the period under review.
Chief executive Wael Sawan attributed the performance to operational efficiency and the company’s ability to navigate a turbulent market environment.
“Shell delivered strong results enabled by our relentless focus on operational performance in a quarter marked by unprecedented disruption in global energy markets,” said chief executive Wael Sawan.
The earnings come as energy companies continue to benefit from price swings linked to geopolitical tensions, even as uncertainty persists over global supply stability and demand trends.
