Shell profit slumps to 30-month low, denting recovery

Royal Dutch Shell’s second-quarter profit slumped to a 30-month low due to weaker gas prices and refining margins, falling far short of expectations and denting a steady recovery in recent years.

Shares of the Anglo-Dutch company fell 4.2% as trading opened in London, compared with a 0.3% decline in London’s FTSE 100 index.

Shell, the world’s second-largest publicly-traded energy company, joins rivals Total and Norway’s Equinor in reporting weak results for the quarter.

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