Shell has revealed a better-than-expected 70% surge in first half earnings despite “severe disruption” in oil and gas markets amid the Iran war. Shell has revealed a better-than-expected 70% surge in half-year earnings thanks to its best quarterly performance for fours years, despite “severe disruption” in oil and gas markets due to the Iran war. The second quarter result was more than double the 4.26 billion dollars (£3.19 billion) posted a year earlier and up sharply on 6.92 billion dollars (£5.18 billion) the previous quarter. Its oil trading division had already seen earnings more than quadruple year on year in the first quarter. In its half-year results, Shell said it would hold share buybacks at the recently reduced rate of 3 billion dollars (£2.24 billion) a quarter in the three months to September.