Shell has posted its biggest ever profit for a single quarter with adjusted earnings of $9.1 billion in the first three months of the year, compared with $3.2 billion in the first quarter and $6.4 billion in the fourth quarter of 2021.

Buoyed by high commodity prices and record refining margins on some products, Shell’s earnings before interest, taxes, depreciation and amortisation for the quarter were $19 billion.

The company said the results were achieved amid a “volatile geopolitical and macroeconomic environment” and revealed that it was taking $3.9