Shell expects cash boost from soaring gas and power prices

Published by
Reuters

By Ron Bousso LONDON (Reuters) – Royal Dutch Shell on Thursday said that soaring natural gas and electricity prices around the world will provide a significant boost to its cashflow in the third quarter. In an update ahead of quarterly results this month, Shell also said that damage caused by August’s Hurricane Ida will dent earnings by $400 million in the quarter. Natural gas and electricity prices around the world have been driven higher as tight gas supplies have collided with strong demand in economies recovering from the COVID-19 pandemic. Shell is the world’s top seller of liquefied natu…

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