Shell records $7.7bn profit in first three months of year 

Shell's cash flow rose by 6% from the previous quarter to $13.3bn reflecting strong operational performance.

Shell reported first-quarter profit of $7.7bn (€7.2bn), exceeding expectations as disruption to Red Sea shipping and Russian refining boosted oil trading and liquefied natural gas production rose.

The company said it will buy back a further $3.5bn of its shares over the next three months, at a similar rate to the previous quarter. Its dividend remained unchanged.