Shell profits drop as oil and gas prices fall

Published

13 minutes ago

Fossil fuel giant Shell has said profits have fallen to $5bn (£3.9bn) in the second three months of the year as oil and gas prices fall.

Energy firms had been making record profits after Russia's invasion of Ukraine pushed up oil and gas prices.

But wholesale prices have been falling from post-invasion peaks.

The firm said it had also been selling less fuel and making lower profits on refining.

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