Shell reports more than £2bn Q1 profit as fossil fuel demand returns

Result is better than expected after firm warned Texas winter storm this year would take heavy toll

Royal Dutch Shell has reported a better than expected profit of $3.2bn (2.3bn) for the first quarter of this year, eight times more than the final quarter of 2020, as global demand for fossil fuels returns.

The Anglo-Dutch company said rising oil and gas market prices helped its quarterly adjusted earnings rise sharply from $393m at the end of last year, and climb well above its $2.9bn profit for the first quarter last year.