London, Feb 23, 2026, 07:56 GMT — Premarket
- Shell ended Friday at 2,940.5 pence. Energy traders are eyeing crude prices as Monday’s session approaches.
- Brent edged down roughly 1% early Monday, with U.S.-Iran negotiations and new tariff actions fueling concerns over demand.
- Thursday brings nuclear talks in Geneva, flagged as the next catalyst for crude prices and oil majors.
Shell Plc finished Friday with its London shares at 2,940.5 pence, setting the stock up for potential pressure if crude prices slip when trading resumes. London Stock Exchange
Shell’s profits and cash payouts remain tethered to oil and gas price moves, despite its push into LNG and trading to flatten the bumps. When crude drops, the impact can ripple through the sector right out of the gate.
London’s oil majors tend to swing as a group on macro headlines. When crude prices slump, Shell, BP, and TotalEnergies might weigh on sentiment—even if there’s barely any news tied to the companies themselves.
Brent slipped 1.21% to $70.89 a barrel as of 0722 GMT, with traders citing tariff headlines from the weekend and renewed U.S.-Iran diplomatic moves. “The tariff news over the weekend has resulted in some risk aversion flows,” said Tony Sycamore at IG Markets. Vandana Hari, founder of Vanda Insights, noted Brent’s ongoing “risk premium” tied to the unresolved Iran situation. Reuters
Goldman Sachs bumped up its Brent crude outlook for the final quarter of 2026 to $60 a barrel, with U.S. WTI set at $56, according to a Sunday note. Even so, the bank still expects a surplus this year in oil markets. For 2026, Goldman projects a surplus of 2.3 million barrels per day, warning that sanctions relief for Iran or Russia could boost supply, putting further pressure on prices. Reuters
Shell’s sizable LNG operation is navigating a market throwing off conflicting signals. Asian spot LNG prices edged down to $10.60 per mmBtu for April shipments, even as Europe appeared set for a record-breaking February, with imports hitting 14.2 million metric tons while the region pushed to top up its low gas stocks, Reuters columnist Clyde Russell said. Reuters
Shell is in the midst of a $3.5 billion share buyback, with the program kicking off Feb. 5 and running up to May 1—timed to wrap ahead of its first-quarter results in May, as long as markets cooperate. Buybacks like this can help steady the share price when trading gets rough. Shell
Dividend logistics didn’t take center stage. Shell announced it’s set to pay an interim dividend of $0.372 per ordinary share for Q4 2025. The ex-dividend date lands on Feb. 19 for ordinary shares, so anyone grabbing the stock after that won’t get this payout. Payment’s due March 30. Shell
Still, crude remains the main story. If Thursday’s talks collapse and tempers flare, oil prices might surge, boosting the group. But if negotiations inch forward and sanctions relief looks likely, traders could start factoring in extra supply, which would weigh on prices — and on Shell.
