Shell has said it will continue its bumper share buyback programme after revealing the Iran war’s effect on oil prices and trading volumes helped it book a near-record profit. The Anglo-Dutch giant’s net profit spiked to $9.8bn between April and July, more than double the same period last year and beating analyst estimates. The petrochemicals giant announced it would continue to return much of those profits to shareholders and continue its $3bn quarterly share buyback programme. The profit haul follows Brent crude – the international benchmark for oil prices – hitting highs of $126 at the end of April after disruption to market flows through the Strait of Hormuz. Wael Sawan, the top boss of Shell, said there was “severe disruption in global energy markets” following the war.