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A near 50 per cent rise in the price of fuel since the end of last year has given Royal Dutch Shell s bottom line a boost, fresh figures show.
Each barrel of oil the company sold in the first quarter fetched around $55.74, or £40, marking a 20 per cent increase on a year ago and and up nearly half since December 2020. Gas prices are also up significantly, Shell said.
Oil prices dropped sharply during the early phases of the pandemic last year, but have since made a hefty comeback, although experts are divided about how long this will last.
The Anglo-Dutch oil giant s adjusted earnings hit $3.2billion, or £2.3billion, over the first three months of this year, up 13 per cent on the year before, and surpassing the £2.2billion forecast by analysts.
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