(Bloomberg Opinion) — Sharp swings in the crude price have been an unmitigated pain for the oil industry, right? Not entirely. The silver lining has been a lucrative environment for the oil majors’ trading operations. This was on stark display in the second-quarter performance of Royal Dutch Shell Plc. But it creates a challenge for investors. How do you value this unpredictable and opaque source of income?Shell warned last month that its three-month earnings, released Thursday, would include a colossal impairment charge reflecting the impact of the pandemic on energy demand and prices. That writedown came in at $17 billion …read more
Source:: Yahoo Finance
