Shell performed weaker in the second quarter in oil and gas trading than in the first three months of this year, partly due to the unrest on the oil market regarding the import duties announced by American President Donald Trump.
According to Shell, the trading results for the past period will be considerably lower than in the first quarter.
Oil prices fell sharply in early April due to concerns about Trump’s import duties and fears of a weakening global economy resulting from trade unrest. Oil prices came under further pressure due to the production increases of oil cartel OPEC+. Prices fell to their lowest level in about four years in early May.
Prices then rose sharply again in June due to the war between Israel and Iran and the American air strikes on Iranian nuclear facilities. After a ceasefire, the price fell sharply again. The oil price is now at about the level of mid-March.
