# Shell sees boost from oil price spike amid Iran war, but gas production hit

By Dan Coatsworth — 2026-07-07

Dan Coatsworth, head of markets at AJ Bell, said: “There was a sense of relief at Shell after it said second quarter integrated gas production would be better than previously expected. The news was part of a Q2 teaser, helping to guide the market before the full numbers are released.

“The update coincided with a pick-up in oil prices, with Brent crude rising 1.4 per cent to $73 in a sign that the market isn’t entirely convinced the US-Iran peace deal is set in stone.

“Shipping activity is picking up through the Strait of Hormuz, but safe passage is not guaranteed.”

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