London, Jan 11, 2026, 21:03 (GMT) — Market closed
- Shell revealed it purchased roughly 2.09 million shares on Friday to cancel as part of its ongoing buyback program
- On Friday, the stock gained roughly 3% in London, buoyed by a rise in energy shares alongside climbing oil prices
- Traders head into Monday focused on crude prices alongside Shell’s Feb. 5 earnings and dividend announcement
Shell plc reported it acquired 2.09 million shares on Jan. 9 for cancellation, according to its latest daily update on the ongoing share buyback program. The shares were bought across London and Amsterdam markets, with Merrill Lynch International handling trades within predetermined guidelines, the company said.
The buyback is crucial now because it’s one of the few consistent tools Shell can pull amid volatile oil headlines shaking up prices. Shell (SHEL.L) kicked off the programme in late October, pegging it at $3.5 billion split between contracts in London and the Netherlands. The goal: cut down issued share capital by cancelling the shares it buys back. Simply put, a buyback means the company uses cash to repurchase its own stock, reducing the total shares outstanding and potentially boosting per-share figures.
Shell shares ended Friday up 3.04% at 26.40 pounds, beating the broader market gains. Despite the jump, the stock remains roughly 10% shy of its 52-week peak. Trading volume was noticeably lighter than recent averages, according to MarketWatch data.
Energy shares pushed London stocks higher on Friday, boosted by climbing oil prices. BP and Shell each gained roughly 2.2% during the session, according to a Reuters market report. The broader FTSE rally was led by miners, with Glencore surging amid rumors of a merger with Rio Tinto.
Brent futures climbed $1.35, or 2.18%, closing at $63.34 a barrel on Friday. U.S. WTI rose 2.35% to $59.12. “The uprising in Iran is keeping the market on edge,” said Phil Flynn, senior analyst at Price Futures Group. Ole Hansen from Saxo Bank highlighted concerns over possible supply disruptions, while Tina Teng, market strategist at Moomoo ANZ, noted the focus on how Venezuelan oil stockpiles will be sold and delivered. Reuters also pointed to rising inventories and oversupply as potential limits to any price recovery. Reuters
Shell’s U.S.-listed shares were last seen at $70.83 in New York late Friday, rising roughly 0.7% from their previous close.
Equity markets are closed for the weekend, so Shell’s first real test on Monday will probably come from crude prices. When oil strengthens, it usually drags the sector up, even if Shell’s only news is the steady stream of buyback announcements.
Investors are keeping an eye on the buyback pace, as it offers a steady source of market demand. However, it won’t protect against falling commodity prices or shrinking margins.
That setup can flip quickly. If oil retreats from Friday’s surge amid signals that supply is sufficient, or if risk appetite wanes, energy stocks could slide—even as buybacks continue.
Shell’s upcoming trigger is its Q4 earnings and dividend announcement on Feb. 5. The stock goes ex-dividend in London on Feb. 19, meaning it will trade without entitlement to the next payout. Investors will focus on that date for any changes to the dividend pace and new insights on cash returns.
