Shell reported a quarterly profit of $10.8 billion, nearly double the previous year, citing higher refining margins amid the Iran war.

The Guardian, CNBC, The National + 5 more · Geopolitics & Markets

29 Oct 20268 outlets

Framing varies: Left-leaning sources frame the profit as a direct consequence of the Iran war and note public backlash, while centre and centre-right outlets focus on record refining margins and financial performance without emphasizing the war connection.

What it means

Shell reported a net profit of $10.8 billion for the third quarter of 2026, nearly double the same period last year. The surge was driven by higher , which have been boosted by the ongoing Iran war and broader Middle East conflict, as oil prices and processing costs have risen sharply.

Accuracy & sourcesGrounded

The claim is solid, based on Shell's official quarterly earnings release. It is reported by multiple major news outlets (The Guardian, CNBC, Reuters) that have direct access to the financial data, so the reporting sits close to the primary source.

How new

Genuinely new as of October 29, 2026, the publication date of the earnings announcement and subsequent news reports.

Shell reported a quarterly profit of $10.8 billion, nearly double the previous year, citing higher refining margins amid the Iran war.

What it means

Accuracy & sourcesGrounded

How new

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