Shell quarterly net profit jumps 19% as war raises oil prices

British energy giant Shell announced a 19-percent increase in net profits for the first quarter as the Middle East war sent oil and gas prices soaring in volatile trading. Profit after tax increased to $5.69bn in the January-March period from $4.78bn in the first quarter of 2025, Shell said in an earnings statement. “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.