28 April 2026
In its first results since the conflict broke out, the energy giant reported profits of $3.2bn (£2.4bn) between January and March after an "exceptional" performance in its oil trading business. The figure was higher than analysts had expected and far ahead of income in the same period last year which reached $1.38bn. The oil price has seen sharp swings since the start of the US-Israel war with Iran as the key Strait of Hormuz - which usually carries about 20% of the global supplies of oil and liquid natural gas - has been effectively closed.
