Shell Profit Jumps to $6.9 Billion as Higher Oil Prices Threaten U.S. Inflation

Shell reported nearly $7 billion in first-quarter profit after oil prices surged during the Iran war, giving one of the world’s largest energy companies a major earnings lift while American consumers face renewed pressure from energy costs.

The company posted $6.92 billion in adjusted earnings, beating analyst expectations, and raised its dividend by 5%, according to Reuters. Shell also reduced its quarterly share buyback plan to $3 billion as conflict-related disruptions weighed on output and debt levels.

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For the U.S. economy, the issue is larger than Shell’s balance sheet. Higher crude prices can move quickly into gasoline, diesel, jet fuel, freight costs, and consumer prices. That can squeeze household budgets, raise business costs, and complicate the Federal Reserve’s inflation fight.

The earnings also add political pressure as energy companies benefit from price shocks tied to global conflict.

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