New York, February 3, 2026, 03:45 EST — Market closed
- Shares of Shell listed in the U.S. dropped 1.7%, closing Monday at $75.73.
- Crude dropped over 4% amid signs of easing tensions, pulling energy shares down with it.
- Attention has turned to Shell’s results on Feb 5, as well as any hints on dividends and buybacks.
Shell Plc’s U.S.-listed shares dropped 1.7% to close at $75.73 on Monday, swinging between $75.00 and $76.35 during the session. Roughly 6.0 million shares traded hands.
The timing is crucial. Shell plans to report its fourth-quarter results and announce its interim dividend—a quarterly cash payout—on Feb 5 at 02:00 EST. This update frequently shifts expectations around cash returns. Share buybacks, where companies repurchase their own stock, remain a central topic for oil giants.
Oil prices dropped after Donald Trump said Iran was “seriously talking” with the United States, easing fears over supply disruptions. Brent crude closed down 4.4% at $66.30 a barrel, while U.S. crude slid 4.7% to $62.14. Phillip Nova analyst Priyanka Sachdeva noted that earlier threats “underpinned oil prices throughout January,” even as OPEC+ decided to keep output steady for March. Reuters
Oil’s decline dragged London equities down, despite strength elsewhere in the market. Shell fell 0.5% and BP dipped 0.4% Monday, with energy shares following crude lower. Ipek Ozkardeskaya from Swissquote Bank noted that better risk appetite helped cushion the broader index against the commodity-driven slide.
Shareholder payouts are set to come under pressure in upcoming earnings. Analysts predict Europe’s oil giants will slash returns by 10% to 25%, mainly through reduced buybacks rather than dividend cuts, the Financial Times reported. The move reflects softer oil prices and efforts to shore up balance sheets. This group includes Shell’s rivals TotalEnergies, Eni, and Equinor.
Shell is currently executing a $3.5 billion share buyback programme, aiming to wrap it up ahead of the fourth-quarter results, depending on how markets behave.
Gas grabbed attention again. On Monday, Shell CEO Wael Sawan noted the liquefied natural gas market is expanding “about 3% per annum,” outpacing growth in the broader gas sector. Investors are weighing longer-term demand trends against short-term price fluctuations. Reuters
Tuesday’s action will hinge on crude. Should oil stabilize after Monday’s steep fall, energy stocks might bounce back; if prices continue to slide, the sector typically remains cautious. U.S. giants like Exxon Mobil and Chevron usually move in step with those oil signals.
That setup could shift quickly. If talks collapse or a new supply scare emerges, the geopolitical premium could push crude higher again. On the flipside, if Shell adopts a cautious stance on buybacks or its 2026 spending, the stock might suffer despite steady profits.
Shell is set to release its results and dividend update on Feb 5 at 02:00 EST, marking the next major event. After that, all eyes will turn to Friday’s U.S.-Iran nuclear talks for any breaking news.
