Market News / Story
Analysts praise Shell's Q3 outlook for record refining margins, higher gas production
Seeking Alpha ·
Seeking Alpha reports: Shell fell 0.9% in Wednesday's trading after saying it expects Q3 refining margins to jump to $42/bbl, a record high and sharply above $24/bbl in Q2, driven by volatility caused by the Iran war and the resulting global supply squeeze across fuel markets. The company's previous record margin was $28.04/bbl set shortly after Russia's invasion of Ukraine in 2022. However, while Q3 refining margins jumped from Q2, Shell could not maintain the same level of activity at…