New York, Jan 3, 2026, 06:39 ET — Market closed
- U.S. launched military strikes on Venezuela; President Donald Trump said Venezuela’s President Nicolás Maduro was captured.
- Shell’s U.S.-listed shares closed Friday up 2.7%, setting up Monday trading to hinge on crude’s “risk premium.”
- Investors are watching the weekend oil reopen and an OPEC+ policy meeting for early price signals.
Shell’s U.S.-listed shares are set for a volatile start to the week after the United States carried out military strikes in Venezuela on Saturday, a shock escalation in a long-running pressure campaign against President Nicolás Maduro. 1
The immediate read-through for Shell (SHEL) is oil: geopolitics can add a “risk premium” — an extra layer in crude prices to reflect fear of supply disruptions — which typically supports cash flow expectations for big integrated producers. 2
That comes as investors have been weighing an oversupplied oil market heading into 2026, with OPEC+ expected to keep its current output policy at an upcoming meeting, according to Reuters. 3
Shell’s American depositary receipts (ADRs, U.S.-listed shares that represent ownership in a foreign company) ended Friday at $75.44, up 2.67% from the previous close. BP gained 3.18%, Exxon Mobil rose 1.91% and Chevron added 2.26%. 4
On the oil side, front-month ICE Brent settled at $60.75 a barrel on Friday, while U.S. West Texas Intermediate (WTI) closed at $57.32, as traders continued to balance oversupply worries against geopolitical risks. 5
Trump said the U.S. had carried out a “large-scale” strike in Venezuela and that Maduro and his wife had been captured and flown out of the country, Reuters reported. 1
Venezuela’s government rejected what it called U.S. “military aggression,” said attacks hit multiple locations and declared a national emergency, Reuters reported. 6
Oil strategists cautioned that the market impact depends on whether the fighting spreads or directly interrupts flows. Vandana Hari, chief executive of Vanda Insights, called the immediate implications “not much beyond another uptick in the Venezuela risk premium.” 2
For Shell-specific catalysts, the company said it continued its buyback program, purchasing 739,498 shares in London and 739,736 shares in Amsterdam on Jan. 2 for cancellation as part of its existing repurchase plan. 7
Shell also has a Venezuela-linked gas project via the Dragon field meant to supply Trinidad and Tobago, which has depended on U.S. licensing given Venezuela sanctions, Reuters has reported. Any rapid shift in Washington’s policy stance would matter for that timeline, investors said. 8
In chart terms, Shell’s Friday trading range of $73.91 to $75.56 sets near-term reference points: a break above Friday’s high would signal momentum, while a slide back toward the prior close near $73.48 would indicate risk appetite is fading. 4
Before next session
Energy traders will be watching for price gaps when crude resumes trading after the weekend, and for any signals from OPEC+ on supply policy as the group meets. 3
Shell’s next scheduled company catalysts are close on the calendar: it is due to publish a Q4 2025 quarterly update on Jan. 8 and its Q4 2025 results on Feb. 5, the company’s investor calendar and a company notice show. 9
More broadly, markets are also looking ahead to U.S. jobs data and the Federal Reserve’s next policy signals, after a holiday-shortened week that began 2026 with mixed U.S. equities and oil still under pressure from surplus expectations. 10
