New York, Jan 30, 2026, 03:39 EST — Market closed.
- Shell’s U.S.-listed shares gained 2.2% Thursday, peaking briefly at $78.17.
- Oil closed at a five-month peak, driven by concerns over supply disruptions from Iran, boosting the sector.
- Shell continued its stock buybacks leading up to the Jan. 30 deadline and ahead of the Feb. 5 earnings release.
Shell Plc’s shares on the U.S. market closed Thursday up 2.2% at $77.47, after climbing as high as $78.17 during the day — marking a fresh 52-week peak. 1
As U.S. markets remain closed before Friday’s open, Shell shareholders face two immediate factors: a sharp rise in crude’s risk premium and the company’s claim that its current buyback programme is nearing its end. 2
Shell ended Thursday’s session in London 2.38% higher at 27.98 pounds, outpacing the FTSE 100’s more modest advance. 3
Oil led the gains. Brent rose 3.4% to close at $70.71 a barrel, while U.S. crude ended at $65.42. Traders are factoring in potential supply disruptions if tensions between the U.S. and Iran escalate. 4
“The immediate (market) concern … is the collateral damage done if Iran takes a swing at its neighbors or … it closes the Strait of Hormuz,” said PVM analyst John Evans. 4
Shell kept up its share buyback program, purchasing 682,064 shares in London and 668,939 in Amsterdam on Jan. 29. The company paid volume-weighted average prices of 27.9112 pounds and 32.3250 euros per share, respectively, and plans to cancel them. 5
The previous day, Shell bought 522,088 shares in London and 558,871 in Amsterdam, all slated for cancellation. 6
Shell’s website outlines a $3.5 billion buyback plan set to run until Jan. 30. The programme, carried out through contracts on the London and Netherlands exchanges, aims to finish — “subject to market conditions” — ahead of the fourth-quarter results. 2
Outside of crude prices, the sector is gearing up for key earnings and geopolitical updates. Exxon Mobil and Chevron are set to report on Friday, followed by European giants Shell, BP, and TotalEnergies next month. “Their guidance around these areas will be important to hear,” said Stephanie Link, chief investment strategist at Hightower Advisors, pointing to dividends and buybacks. 7
That setup could flip quickly: a drop in crude prices or a hint that buybacks ease after Jan. 30 would put Shell’s rally under the microscope, revealing how much stems from oil’s momentum versus firm-specific factors.
Another issue is unfolding in Asia. Shell Indonesia confirmed it is coordinating with the government on its 2026 fuel import quota application, following reports of shortages at certain Shell stations. The company didn’t provide details on the current status of its import permit. 8
Investors are zeroing in on Friday’s oil data and any signals from the U.S. majors’ earnings. After that, all eyes shift to Shell’s own Q4 2025 report, due Feb. 5. 9
