Royal Dutch Shell beat profits expectations for the third quarter of the year as soaring energy prices offset the damage caused by the devastating US hurricanes.

Third-quarter “current cost of supply” (CCS) net profit - a closely watched measure that excludes gains from rising fuel stock values and one-off charges - was $5.8bn, against expectations of about $5bn. This compared with $4.41bn in the same quarter the previous year and $5.17bn in the second quarter.