British oil giant Shell reported a big jump in Q1 profit on the back of surging oil prices that have been pushed to 4-year highs by the war in Iran.

Britain's Shell posted stronger-than-expected quarterly profit as the Iran war sent fossil fuel prices soaring.

The huge jump in earnings has some calling the company a war profiteer

By Shadia Nasralla and Stephanie Kelly LONDON, May 7 (Reuters) - Shell's first-quarter profit beat estimates and hit its highest in two years at $6.9 billion on Thursday, boosted by gains linked to the Middle East war,

Shell ( SHEL) CEO Wael Sawan warned that there is currently a shortage of nearly 1B barrels of crude oil, which will worsen each day that the Iran war drags on.

The oil market hopes the U.S. and Iran will strike a deal that could reopen the Strait of Hormuz and restore energy shipments.

Shell has reported adjusted earnings of $6.9bn for the first quarter of 2026 (Q1 2026), a 23.2% increase from $5.6bn in the same period of the previous year. Cash flow from operations (CFFO), excluding working capital,

Over the last 2 years, SHEL has beaten EPS estimates 50% of the time and has beaten revenue estimates 25% of the time. Over the last 3 months, EPS estimates have seen 6 upward revisions and 0 downward. Revenue estimates have seen 4 upward revisions and 1 downward.

London, May 7, 2026 − The Board of Shell plc (the “Company”) (XLON: SHEL, XNYS: SHEL, XAMS: SHELL) today announced an interim dividend in respect