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Business briefing · Thursday, October 29, 2026 · Morning edition · Story 2 of 5
Shell doubles quarterly profit as oil prices rise due to Middle East conflict
Shell's adjusted profit for the July-September quarter reached $10.8bn, doubling from the previous year. The increase was driven by higher oil and gas prices caused by the Middle East conflict and global shortages.
Why it matters: Higher energy prices and geopolitical tensions are impacting both energy company profits and global markets.
Sources: The Guardian Business · CNBC
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