Shell reported a $6.2 billion profit for the third quarter, in line with estimates, thanks to higher oil prices and refining margins. The company also announced a $3.5 billion share buyback to be completed over the next three months. This comes as energy majors, including BP, are coming off a profitable year due to rising fossil fuel prices. Oil prices rose during the quarter due to supply cuts from Saudi Arabia and Russia, and the International Energy Agency predicts continued volatility in oil markets due to escalating conflict in the Middle East.

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