LONDON (Reuters) - Royal Dutch Shell’s oil trading profits fell short of expectations in the first half of the year, Chief Financial Officer Jessica Uhl said on Thursday.
“Trading has been a bit soft for us in the first half,” Uhl said on a call with analysts following its quarterly results.
“It has been a difficult trading environment on the products side (and) it’s been a mixed bag from weak in the first quarter to stronger in the second... On the crude side, the business has not been as strong as we would have liked.”
Benchmark Brent crude oil prices rose by almost 50 percent in the year to June to around $74 a barrel, Reuters data shows.
Shell does not disclose its trading profits.
Reporting by Ron Bousso; editing by Jason Neely