Shell Reports $9.8 Billion in Adjusted Earnings as Energy Prices Surge

Shell (SHEL:NYSE) more than doubled its second-quarter earnings from a year earlier, as higher oil and gas prices, record refinery utilization, and strong trading boosted profits to above analyst expectations.

Shell on Thursday reported adjusted earnings of $9.84 billion for the second quarter, more than double the $4.26 billion for the same period last year, and smashing analyst estimates of $8.8-$8.9 billion.

The higher adjusted earnings reflected a jump in realized oil and gas prices, higher crude, fuel, and LNG trading profits, surging chemicals…