Shell posted a 24% year-on-year rise in first-quarter earnings to $6.9 billion, driven by soaring oil and gas prices following the Iran war and Strait of Hormuz disruption. The company announced a 5% dividend hike and a $3 billion share buyback, exceeding ...

Shell’s traders have successfully cashed in on volatile movements in energy prices; its refineries are running close to full capacity, turning oil into fuels like jet fuel and diesel, as well as chemicals for industry - products Shell can sell at higher prices and with fatter margins.

The energy giant benefited from volatile crude markets as the Iran conflict disrupted trade routes and unsettled the global economy.

Adjusted net income rose to $6.92 billion, beating the $6.1 billion median estimate of analysts compiled by Bloomberg.

The acquisition is Shell's biggest since the £50bn takeover of BG Group in 2015 and significantly strengthens its presence in North America.

Dutch climate activists have filed a new lawsuit against Shell (LSE:SHEL), seeking a court order to halt investments in fresh oil and gas projects. The case challenges Shell's current energy transition approach,