Shell Profits Climb as Iran War Boosts Oil Trading

Shell Plc reported stronger-than-expected first-quarter earnings as the Iran war boosted trading profits and energy prices, outweighing declines in oil and gas production from the conflict.

Adjusted net income rose to $6.92 billion, the London-based oil major said in a statement. That beat the $6.1 billion median estimate of analysts compiled by Bloomberg, as surging oil and gas prices lifted profits to their highest level in two years.