business
Shell expects higher Q2 integrated-gas trading results amid Iran war volatility
Shell said its integrated gas trading and optimization result will be significantly higher in Q2 2026 than in Q1. Results in chemicals and products and marketing divisions are expected to match the prior quarter. The company will release full Q2 figures on July 30.
Jul 7, 5:30 AM·1m read2 sources
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Shell stated on Tuesday that its trading and optimization result in the integrated gas division is expected to be higher in the second quarter of 2026 than in the first quarter. com reported that the UK-based company linked the outlook to extreme volatility in energy commodity markets during the Iran war.
The trading and optimization results in the chemicals and products division and in the marketing division are expected to be in line with Q1 2026, Shell said in the update note.
The company had already posted excessive oil trading profits for the first quarter. In early May 2026 Shell reported consensus-beating earnings for Q1 2026. It attributed the earnings bump to higher realized liquids prices and higher trading amid unprecedented market volatility in the latter part of the quarter.
BP and TotalEnergies also booked higher-than-expected profits for Q1 2026 on the back of very strong trading results, OilPrice.com reported. Analysts estimate that trading profits for supermajors reach billions of U.S. dollars per quarter in times of extreme market volatility.
All supermajors are set to report Q2 2026 results later in July 2026.
