{"id":32605,"date":"2023-07-07T09:09:24","date_gmt":"2023-07-07T13:09:24","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/shell-follows-exxon-warning-profits-are-falling-amid-oil-and-gas-prices-slump\/"},"modified":"2023-07-07T09:09:26","modified_gmt":"2023-07-07T13:09:26","slug":"shell-follows-exxon-warning-profits-are-falling-amid-oil-and-gas-prices-slump","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=32605","title":{"rendered":"Shell Follows Exxon, Warning Profits Are Falling Amid Oil and Gas Prices Slump"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000687053\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>Oil-and-gas giant<br \/>\n        Shell<br \/>\n       warned investors that profits fell in the second quarter, following rival Exxon\u2019s statement earlier this week.\u00a0<\/p>\n<p>Although it\u2019s not due to report results until July 27, London-based<br \/>\n        Shell<br \/>\n       said it expects profits from trading gas to be significantly lower than in the first quarter. Shell is the world\u2019s biggest trader of liquefied natural gas.<\/p>\n<div class=\"paywall\">\n<p>Oil companies had a record year in 2022 as energy prices spiked when Russia invaded Ukraine, raising concerns that supplies from one of the world\u2019s biggest producing countries would be cut off. Russia continued to export oil and gas though, even amid tough sanctions by Europe and the U.S., and energy prices have since fallen.<\/p>\n<p>Shell\u2019s American depositary seceipts fell 0.3% in premarket trading. Its London shares fell 0.2%.<\/p>\n<p>Crude prices were little changed early on Friday. West Texas Intermediate, the U.S. standard, traded at $71.78 a barrel. Brent crude, the international benchmark, was at $76.48.<\/p>\n<p>Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/shell-exxon-stock-profits-warning-oil-gas-prices-a5f881e0?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil-and-gas giant Shell warned investors that profits fell in the second quarter, following rival Exxon\u2019s statement earlier this week.\u00a0 Although it\u2019s not due to report results until July 27, London-based Shell said it expects profits from trading gas to be significantly lower than in the first quarter. Shell is the world\u2019s biggest trader of liquefied [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":32606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-32605","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shell Follows Exxon, Warning Profits Are Falling Amid Oil and Gas Prices Slump | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Oil-and-gas giant Shell warned investors that profits fell in the second quarter, following rival Exxon\u2019s statement earlier this week.\u00a0 Although it\u2019s not\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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