London, Feb 24, 2026, 07:44 GMT — Premarket
- Shell finished Monday’s session in London with shares rising 0.8%.
- Another round of share buybacks for cancellation was disclosed by the company.
- Oil pushed closer to levels last seen seven months ago, with prices buoyed ahead of Thursday’s scheduled U.S.-Iran talks.
Shell shares are drawing attention before London’s open this Tuesday, as oil prices edge up near seven-month highs amid fresh U.S.-Iran strains—conditions that tend to move major energy names. “At this stage, geopolitics is clearly doing most of the heavy lifting for oil prices,” said Priyanka Sachdeva, senior market analyst at Phillip Nova. OANDA’s Kelvin Wong echoed that view, calling geopolitical risks the key short-term catalyst for crude. Reuters
Shell shares trading in London (SHEL) added 24.5 pence, up 0.83%, wrapping up the session at 2,965 pence.
Shell disclosed it repurchased 1,119,338 shares for cancellation on Feb. 23, snapping up stock across multiple European venues such as the London Stock Exchange and Euronext Amsterdam. The company cited a volume-weighted average price of roughly 29.54 pounds in London, with Amsterdam trades averaging 33.85 euros. That VWAP figure reflects the average price paid through the session, weighted by the size of each deal.
Shell’s U.S. shares (SHEL) wrapped up Monday’s session in New York at $79.97, then edged up to $80.43 after hours, MarketWatch data show.
Why it matters now: Shell ranks among Europe’s giants, and its stock tends to swing harder than most when crude shifts. Geopolitical news can jolt oil, and when that happens, broad flows hit the indexes, dragging majors like Shell along.
The buyback’s another factor here. Routine repurchases help take some shares out of circulation, supporting per-share stats—though, in reality, they seldom outweigh what the market thinks about crude prices, refining spreads, or gas trading.
Oil traders kept an eye out for hints that tensions could hit supply, but also for signs of a sudden cooling that might erase the risk premium just as quickly. The very headlines that send crude higher can turn on a dime.
Demand is another piece of the puzzle behind the geopolitics. Higher tariffs and softer growth outlooks tend to sap fuel consumption, which can limit gains for integrated producers—even if crude prices hold up.
Shell bulls have something to watch for—a quieter Middle East and weaker crude prices could drag the stock closer to the rest of the market, making buybacks less effective at the edges. A sudden shift in refining margins might also undercut the oil-driven gains.
