Europe’s oil majors reap $4.7B from trading on Iran war volatility
While most investors were white-knuckling through the Iran crisis, Europe’s biggest oil companies were quietly printing money. Shell, BP, TotalEnergies, and Eni collectively pulled in approximately $4.75 billion in trading profits by riding the wild price swings that accompanied fears of a broader Middle Eastern conflict. Crude oil spiked to $118 per barrel as tensions…
