Shell beats forecasts as profits more than double

Shell has reported profits have more than doubled between July and September helped by high oil and gas prices.

The Anglo-Dutch energy giant said underlying profit reached $9.5bn in the third quarter.

That compares to $4.2bn during the same period last year though it is a slowdown from the second quarter when it announced record figures.

The invasion of Ukraine sparked oil and gas prices to rise as nations pledged to cut dependence on Russian energy.

Wholesale oil prices have dropped from highs of $120 a barrel in June to around $95 currently.


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