The Telegraph
Shell shares slide after profit warning
Shell has issued a profit warning for the third quarter in a sign the energy giant’s record run of earnings could be coming to an end.
The FTSE 100 company reported a negative margin of $27 per metric tonne in its chemical unit, which is often seen as an indicator of the strength of the wider economy.
That could be a worrying sign of the outlook across Europe, where major industries are struggling to cope with soaring gas prices.
Shell also reported a decline in its refining margins as oil prices eased back from their recent highs.