Shell profits shock market

Royal Dutch Shell’s second-quarter profit slumped to a 30-month low on weaker fuel prices and refining margins, denting a steady recovery in recent years and sending the Anglo-Dutch energy company’s shares down over 5%.

The results missed analyst forecasts by a wide margin and triggered the biggest one-day fall in Shell shares in over three years. Shell joins rivals Total and Norway’s Equinor in reporting weak results for the quarter while BP reported stronger-than-expected profit.