London, Jan 19, 2026, 21:52 GMT — Market closed
- Shell shares slipped in London after tariff threats hit risk appetite.
- A Syrian oil official confirmed that Shell requested to pull out from the al-Omar oilfield.
- Investors are now eyeing the Feb. 5 earnings and what comes next for Shell’s buyback program.
Shares of Shell Plc (SHEL.L) slipped 0.8% to finish at 2,730.0 pence on Monday, moving in a range from 2,727.0 to 2,760.5 pence during the session. Trading volume reached roughly 5.3 million shares, according to data from Hargreaves Lansdown. 1
UK stocks fell amid pressure after U.S. President Donald Trump warned of tariffs targeting Britain and seven other European countries. The blue-chip FTSE 100 closed down 0.4%, with cyclicals and exporters taking the brunt of the sell-off. 2
Oil showed little movement. Brent crude held steady near $64 a barrel, with trading subdued due to a U.S. public holiday. Investors remain cautious amid the Greenland dispute and concerns over a possible escalation in trade tensions, Rystad analyst Janiv Shah noted. 3
Shell is making headlines again in Syria. Youssef Qeblawi, head of the Syrian Petroleum Company, revealed that Shell has requested to pull out of the al-Omar oilfield, aiming to transfer its stake to state-run firms. Talks are underway over a financial deal to hand over full control to Syrian operators “within a very short period.” The field used to pump around 50,000 barrels daily but output has slumped to about 5,000 barrels and needs repairs. Shell has yet to respond to requests for comment. 4
The company continued its cash return strategy. Shell repurchased 659,305 shares in London at a volume-weighted average price of £27.3701, and 661,777 shares in Amsterdam at €31.6718, with all shares set for cancellation. 5
Despite a volatile session, some brokerages held their ground. RBC analyst Biraj Borkhataria reaffirmed a “buy” rating and maintained a target price of 3,600 pence, according to 7 .
Shell is set to report its fourth-quarter results and announce an interim dividend on Feb. 5. On the same day, CEO Wael Sawan and CFO Sinead Gorman will lead an analyst webcast, the company confirmed. 6
Traders will watch closely for any new developments from Washington on tariffs, along with potential escalations in Europe’s response. The broader macro picture is key—it directly influences demand forecasts and crude prices.
The risk is tangible. Should tariff threats escalate into a full-blown trade war, investors could begin pricing in weaker fuel demand and narrower margins despite oil hovering around $64. On top of that, the Syria situation remains murky, with no clear terms for settlement or exit in sight.
London trading kicks off again Tuesday. After that, attention turns to Thursday’s emergency EU talks over the Greenland dispute, along with Shell’s February 5 earnings and dividend announcement.
