A weaker quarter for Shell is a timely reminder that high oil and gas prices don’t always mean high prices. bumper results supermajor.
Liquefied natural gas prices surged in the third quarter, while crude oil prices fluctuated between $80-100 per barrel. Shell’s third quarter update However, on Thursday it warned of “significantly lower” gas business results and reduced margins in refining and chemicals, which together could generate as much as $2 million in earnings. billion dollars. Marketing margins and oil production improved, but the clear overall picture surprised some investors: The company’s shares fell nearly 5% in European trading, though fell some within that drop at the end of the day.
