Shell posts $6.92B Q1 profit as Iran war boosts energy prices, plans $16.4B ARC Resources buyout

Shell reported a strong first-quarter profit of $6.92 billion, surpassing analyst expectations, driven by soaring energy prices amid the Iran war. The conflict has disrupted global energy markets, pushing oil prices up about 40% since February. Shell also announced a $16.4 billion acquisition of Canadian energy company ARC Resources to strengthen its resource base. This deal positions Shell for long-term growth despite current market volatility.