SHELL PROFITS DOUBLE AS OIL PRICES RISE DUE TO IRAN WAR

Shell profits have doubled due to the rise in oil prices caused by the disruption to global supplies of oil and liquid natural gas through the Strait of Hormuz, according to BBC News. This disruption is a result of the ongoing conflict in the region, with the US launching strikes on Iran. The immediate significance of this event is the substantial increase in Shell's profits.

The conflict has led to a significant increase in oil prices, with the US launching 'heavy' strikes on Iran after a pause, as reported by The Guardian. The exact figures of the increase in oil prices are not specified, but the rise has had a direct impact on Shell's profits. According to BBC News, the disruption to global supplies has pushed up prices, resulting in Shell's profits doubling.

The ongoing conflict in the Middle East, particularly between the US and Iran, has significant implications for the global energy market. The disruption to oil supplies through the Strait of Hormuz is a critical factor in the increase in oil prices, as it is a major chokepoint for global oil trade.

• Shell profits have doubled due to the rise in oil prices
• The conflict in the Middle East has disrupted global supplies of oil and liquid natural gas
• The US has launched 'heavy' strikes on Iran after a pause

Read the original source for full detail available at BBC News src