European Oil Majors Report ‘Exceptional’ Trading Profits

Europe's top oil firms reported blowout earnings for the first quarter as oil and gas prices spiked with the European energy crisis and the Russian invasion of Ukraine.   All three major producers and traders—Shell, BP, and TotalEnergies—posted their highest quarterly earnings in years, hailing "outperforming" and "exceptional" trading results for contributing to the high earnings, together with spiking oil and natural gas prices and stronger refinery margins.   While it's no secret that trading in volatile markets…