Shell says fuel-refining margin could add $1 billion to quarterly earnings

london-oyster Plc said it expects strong second-quarter gains from higher fuel-refining margins that could add more than $1 billion in earnings, while forecasts of continued higher energy prices boosted the value of its oil and gas holdings.

The London-based oil major said on Thursday it expects the outlook for energy prices to allow the company to reverse between $3.5 billion and $4.5 billion at the start of the pandemic, when demand slumped. . Had a big impact on energy-price forecasts, Demand is back amid a resurgence in travel and other activities brought about by the COVID-19 shutdown.