# Shell reported profits of $6.92bn (£5.1bn) for the first quarter.

*business · news · 2026-05-07 · BBC News*

## Key points

- Shell reported first-quarter profits of $6.92bn, up from $5.58bn last year.
- Shell's profit increase is directly linked to the sharp rise in oil prices.
- Oil prices surged after the US-Israel conflict with Iran closed the Strait of Hormuz.
- The Strait of Hormuz closure disrupted about 20% of global oil and gas supplies.

**Companies:** Shell
**Countries:** Iran, United States, Israel

[Read the full story on BBC News](https://www.bbc.com/news/articles/ce3p0x54drwo)

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