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The energy giant's profits jump by nearly a quarter as it benefits from the recent volatility in the oil price

The bank upgraded the oil transport name to buy from underperform.

British oil giant Shell reported a big jump in Q1 profit on the back of surging oil prices that have been pushed to 4-year highs by the war in Iran.

Oil service providers, such as Halliburton, should gain as commodity prices appear poised to stay high, with or without the Iran war, the bank says.