US-Iran War Escalation Sends Oil Prices Surging, Energy Majors Post Strong Earnings

에너지/원자재 | Fri Jul 31 2026 00:00:00 GMT+0000 (Coordinated Universal Time) | 7 sources

July oil prices surged amid escalating Middle East conflict, while energy companies including Shell and Rolls-Royce reported improved earnings.

Analysis

[Crude Oil] recorded largest monthly gain in July ^[1]^[2]^[4]

Oil prices surged amid US-Iran war escalation
Approximately 40% rebound from July low to high
Petroleum and diesel products rose about 20%

[Shell] reported highest quarterly profit in four years ^[7]

Q2 adjusted earnings of $9.84 billion beat expectations
Best quarterly result since Q2 2022
Maintained $3 billion quarterly share buyback
Operating cash flow of $21.4 billion

[Rolls-Royce] announced imminent SMR contract with hyperscaler ^[3]

Surging demand for always-on power systems for AI data centers
Power business expected to grow 25% annually through 2030
H1 operating profit up 46% to £2.5 billion
Annual profit guidance raised to £4.7-4.9 billion

[Saudi Arabia] proposed naval coalition to protect maritime routes ^[6]

Brent crude closed at $89.03
down 2%
Maritime defense cooperation meeting with over 40 countries
Response to Houthi declaration of naval blockade against Saudi Arabia

[Damietta Port] suffered drone attack on LNG facility at Egyptian Mediterranean port ^[5]

Fires broke out on regasification and storage vessels
Energos Winter FSRU and GasLog Salem damaged
Spread of attacks on Middle East energy infrastructure

[OPEC+] set to decide on September output increase of 188,000 barrels per day ^[6]^[4]

Official announcement expected at Sunday meeting
Kalshi prediction market gives 65% probability of year-end WTI above $75
Policy uncertainty extending through 2027

Sources