ReportedShipping, energy & marketsUnited Kingdom / global energy markets
Shell reports $10.8 billion quarterly earnings as refining margins hit a record
- Mountain Time
- Local time
- 12:29 PM in London
- Where
- United Kingdom / global energy markets
Shell reported third-quarter adjusted earnings of $10.814 billion, compared with $5.432 billion a year earlier. Its indicative refining margin rose to a record $42 per barrel from $24 in the second quarter. OilPrice.com attributed the gains to strong trading, higher oil and gas prices and fuel-supply disruptions during the Middle East crisis.
Why it matters
The record refining margin measures the widening cost of converting crude into fuels as regional supply disruptions squeeze fuel availability.
Source
- OilPrice.comoilprice.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels