FINWIRES · TerminalLIVE
FINWIRES

Shell plc

$SHEL
LSEEnergy

335 stories mentioning Shell plcUpdated 2d ago

Shares fell amid a broad energy-sector decline Monday as oil prices dropped on US-Iran peace progress and prospects of the Strait of Hormuz reopening.

What are analysts saying about Shell plc?

Recent broker actions mentioned in FINWIRES coverage. Compiled from wire headlines; not investment advice.

What's the latest news on Shell plc?

Oil & Energy

US, Iraq Ink $60 Billion in Deals, MoUs During Business Summit

US and Iraqi companies, including energy majors and their respective governments have concluded deals and MoUs worth more than $60 billion during a US-Iraq Business Summit on Friday, the US Chamber of Commerce said in a statement.Energy executives from BP (BP), Chevron (CVX), ConocoPhillips (COP), ExxonMobil (XOM), Excelerate Energy (EE), GE Vernova (GEV), HKN Energy and Shell (SHEL) took part along with "top-tier" representation from both governments, the statement said.The event took place during Iraqi Prime Minister Ali al-Zaidi's visit to Washington, DC.BP has agreed to sell a 42% interest in BP Energy Company of Kirkuk to ConocoPhillips to support redevelopment of northern Iraq's Kirkuk oil fields, as last week.ConocoPhillips will thus support redevelopment of four large-scale operational fields in the Kirkuk area of northern Iraq.Chevron will also invest in a pipeline that bypasses the Strait of Hormuz, opening up another export route out of Iraq, Jake Spiering, Chevron president of corporate business development, said during the event, according to a Reuters report.The proposed pipeline could carry Iraqi oil to Syria's west coast on the Mediterranean coast, the report said.Earlier on Thursday, Zaidi visited the company's headquarters in Houston, Texas before Iraq signed deals with the energy giant to advance its possible entry into the West Qurna 2 and Nassiriya oilfields, Reuters reported.

$BP$COP$CVX$EE$GEV$SHEL$XOM
Equities

Update: Market Chatter: Shell Sets in Motion Process to Progress Venezuela's Dragon Offshore Gas Project

(Updates with Shell's response in the third paragraph)Shell (SHEL) has kicked off a tendering process for drilling services at its Dragon offshore gas project in eastern Venezuela, pressing ahead with its plan to start drilling four wells from Q2 2027, Reuters reported Tuesday, citing two unnamed people familiar with the process.The contract is expected to be awarded by the end of September, the people told the news agency, if a positive final investment decision is made for the 4.2 trillion-cubic-foot development."We continue to progress the Dragon project in full compliance with applicable laws, regulations and sanctions," Shell said Friday in an emailed statement to.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$SHEL
Asia Markets

European Equities Traded in the US as American Depositary Receipts Decline Friday

European equities traded in the US as American depositary receipts were lower on Friday morning, shedding 0.6% to 1,899.52 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by energy companies Equinor (EQNR) and Eni (E), which climbed 4.1% and 3.1% respectively.They were followed by biotech companies Genenta Science (GNTA) and DBV Technologies (DBVT), which added 3% and 2.2%.The decliners from continental Europe were led by tech company Nokia (NOK), which dropped 3%, and semiconductor companies STMicroelectronics (STM) and ASML (ASML), which fell 2.6% each.They were followed by software company SAP (SAP), which shed 1.8%.From the UK and Ireland, the gainers were led by pharmaceutical company Compass Pathways (CMPS), which climbed 4.8%, and energy companies Shell (SHEL) and BP (BP), which added 2.3% and 1.4% respectively.The decliners from the UK and Ireland were led by budget airline Ryanair (RYAAY) and pharmaceutical company GSK (GSK), which lost 3.6% and 2.8% respectively. They were followed by bank Barclays (BCS), which shed 2.1%.

$ASML$BCS$BP$CMPS$DBVT$E$EQNR$GNTA$GSK$NOK$RYAAY$SAP$SHEL$STM
Asia Markets

Update: US Equity Futures Drop as AI Concerns Weigh on Tech Stocks, Middle East Conflict Continues

US equity futures were edging lower pre-bell Friday as concerns over artificial intelligence spending weighed on chip stocks and the wider technology sector, while the conflict in the Middle East showed no signs of de-escalating.Dow Jones Industrial Average futures were 0.5% lower, S&P 500 futures were down 0.9%, and Nasdaq futures were 1.9% lower.Global tech stocks continued their drop from the previous session, including Nvidia (NVDA), which was down 2.6% in premarket activity.US Central Command said in a post on X that it completed the sixth consecutive wave of attacks against Iran, degrading the nation's military capabilities and holding it "accountable" for recent attacks on commercial shipping in the Strait of Hormuz.Iran said it had targeted US military forces in Syria and Bahrain in a broadening of the scope of its attacks in the Middle East.Traders assessed the latest round of earnings, with Netflix (NFLX) reporting an increase in fiscal Q2 earnings and revenue on late Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.4% at $86.20 per barrel and US West Texas Intermediate crude 2.5% higher at $80.95 per barrel.June housing starts rose to a 1.427 million annual rate from 1.199 million in the previous month, compared with expectations for a 1.31 million rate in a survey compiled by Bloomberg. US import prices rose 0.3% in June, above the 0.7% increase expected and below the 1.7% gain in May. US export prices fell 0.6% in June, compared with the 0.7% decrease expected and the 1.2% increase in the prior month.The June industrial production report, due at 9:15 am ET, is forecast to show a 0.2% gain following a 0.1% increase in the prior month. The University of Michigan consumer sentiment index for July, slated for 10 am ET, is expected at 51.0, up from 49.5 previously.In other world markets, Japan's Nikkei closed 4% lower, Hong Kong's Hang Seng ended 1.8% lower, and China's Shanghai Composite finished 3.1% lower. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, included in the tech stock sell-off were Applied Materials (AMAT), Lam Research (LRCX), and Intel (INTC), which were down 5.3%, 4.7%, and 4.5%, respectively. SpaceX (SPCX) shares fell 4.4% after CEO Elon Musk said in a post on X that the company's Starship rocket triggered an "automatic launch abort" Thursday, with the next launch to be rescheduled possibly "in a few days." Netflix stock was down 11% after it posted Q2 revenue that fell short of analysts' consensus estimates.On the winning side, energy-related stocks rose along with the increase in oil prices. Exxon Mobil (XOM) shares were 2% higher, Shell (SHEL) stock was up 2.1%, and TotalEnergies (TTE) shares were up 2.3%.

Dow JonesNasdaq CompositeS&P 500$AMAT$INTC$LRCX$NFLX$NVDA$SHEL$SPCX$TTE$XOM
Oil & Energy

Nigeria Eyes Turn-Around in Deepwater Oil, Fiscal Incentives Generate Appetite

Nigeria is set for a major turnaround in deepwater crude oil extraction, Wood Mackenzie said in an article on Thursday, in which its analysts shared their updated views on the country's prospects after attending the Nigeria Oil and Gas conference in Abuja last week.Nigeria, Africa's largest liquids producer, has huge deepwater potential, but it has gone more than a decade without major investment until a final investment decision for Bonga North in 2024. Deepwater liquids output has fallen below 500,000 barrels per day from a 800,000-bbl/d peak in 2016.That is likely to change now. Nigeria's government is now aiming for 3 million bbl/d output and 12 billion cubic feet per day of natural gas by 2030 and to reverse decline through regulatory reform and fiscal incentives.Six deepwater legacy contracts between state-run Nigerian National Petroleum and international oil companies were extended in 2022, while new incentives were introduced in 2024, including tax credits for fields that reach final investment decision before 2029.Oil companies have taken note and are pursuing deepwater development plans. Four large greenfield projects could alone produce more than 2 billion barrels of oil equivalent, Wood Mackenzie said.Shell (SHEL), ExxonMobil (XOM), Eni (E) and TotalEnergies (TTE) have raised the priority of Nigerian deepwater projects that previously were unappealing before the introduction of incentives.Evidence of this is Shell's 2024 FID on Bonga North, 20 years after it was discovered, and ExxonMobil's approval last week of the $1 billion Usan Infill Project as part of a pledge to invest $10 billion to develop deepwater assets in Nigeria.TotalEnergies recently said it would acquire Conoil's 50% stake in the Egina South discovery while Shell bought 10% of TotalEnergies' stake in OML 118 to boost its Bonga Southwest-Aparo project.WoodMackenzie said Nigeria has a strong opportunity to reverse decline in deepwater output, with projects collectively adding a potential 700,000 barrels of liquids and 950 billion cubic feet per day of gas.Risks are mainly centered around project execution while others include partner alignment, competition for capital, unitization, regulatory approvals, gas sales agreements and supply chain constraints.On the other hand there is some spare capacity at present on existing floating production and storage, but also some "creaky" infrastructure.The gauge of whether Nigeria's deepwater ambitions will be realized, can be gauged to a degree by whether Bonga Southwest-Aparo, Zabazaba and Preowei reach FID within 18 months."If these projects get over the line, Nigeria's deepwater resurgence will prove it has real bite," the article concluded.

$E$SHEL$TTE$XOM
Sectors

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index falling 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1%.The Philadelphia Oil Service Sector Index shed 0.5%, and the Dow Jones US Utilities Index was down 0.8%.Front-month West Texas Intermediate crude oil rose 0.4% to $79.68 a barrel, and the global benchmark Brent crude contract added 0.3% to $85.02 a barrel. Henry Hub natural gas futures advanced 0.8% to $2.93 per 1 million BTU.In sector news, Iran is now signaling it could use Yemen's Houthi allies to shut the Bab el-Mandeb gateway to the Red Sea, opening a new front against Washington and putting two of the world's most important energy arteries at risk, Reuters reported. As US strikes deepen inside Iran and Houthi attacks escalate in tandem, analysts said Tehran is widening the conflict and seeking to increase pressure on Washington by extending the threat to global trade and energy supplies beyond the Gulf, the report said.US crude oil stocks, including those in the Strategic Petroleum Reserve, declined by 4.7 million barrels in the week ended July 10 following a decrease of 3.2 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 1.7 million barrels after a 3.0-million-barrel gain in the previous week, a smaller decline than the 1.8 million-barrel decrease expected in a survey compiled by Bloomberg.In corporate news, Shell's (SHEL) acquisition of ARC Resources adds portfolio optionality and supports LNG growth, though the company may still fall short of what investors are seeking, RBC Capital Markets said in a note. RBC resumed coverage of Shell with a sector perform rating. Separately, Shell has kicked off a tendering process for drilling services at its Dragon offshore gas project in eastern Venezuela, pressing ahead with its plan to start drilling four wells from Q2 2027, Reuters reported. Shell shares were up 0.3%.BP (BP) said Wednesday it agreed to sell BP Ventures' minority interests in more than 10 portfolio companies to European private equity firm Verdane. BP shares were off 0.1%.Halliburton (HAL) said it was awarded a multiyear contract from Aramco to provide stimulation and completion services supporting unconventional gas development in Saudi Arabia. Halliburton shares were shedding 0.7%.SunPower (SPWR) said in a Tuesday Form 8-K filing that Jeanne Nguyen stepped down as Chief Accounting Officer on July 8. Its shares were shedding 0.6%.

$BP$HAL$SHEL$SPWR
Sectors

Sector Update: Energy

Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index falling 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1%.The Philadelphia Oil Service Sector Index shed 0.5%, and the Dow Jones US Utilities Index was down 0.8%.Front-month West Texas Intermediate crude oil rose 0.4% to $79.68 a barrel, and the global benchmark Brent crude contract added 0.3% to $85.02 a barrel. Henry Hub natural gas futures advanced 0.8% to $2.93 per 1 million BTU.In corporate news, Shell's (SHEL) acquisition of ARC Resources adds portfolio optionality and supports LNG growth, though the company may still fall short of what investors are seeking, RBC Capital Markets said in a note. RBC resumed coverage of Shell with a sector perform rating. Shell shares were up 0.1%.

$SHEL
Sectors

Sector Update: Energy Stocks Fall Wednesday Afternoon

Energy stocks were lower Wednesday afternoon, with the NYSE Energy Sector Index falling 1.2% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.6%.The Philadelphia Oil Service Sector Index shed 1.2%, and the Dow Jones US Utilities Index was down 0.6%.Iran is now signaling it could use Yemen's Houthi allies to shut the Bab el-Mandeb gateway to the Red Sea, opening a new front against Washington and putting two of the world's most important energy arteries at risk, Reuters reported. As US strikes deepen inside Iran and Houthi attacks escalate in tandem, analysts said Tehran is widening the conflict and seeking to increase pressure on Washington by extending the threat to global trade and energy supplies beyond the Gulf, the report said.Front-month West Texas Intermediate crude oil eased 0.5% to $78.92 a barrel, and the global benchmark Brent crude contract shed 0.5% to $84.32 a barrel. Henry Hub natural gas futures rose 0.9% to $2.93 per 1 million BTU.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, declined by 4.7 million barrels in the week ended July 10 following a decrease of 3.2 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 1.7 million barrels after a 3.0-million-barrel gain in the previous week, a smaller decline than the 1.8 million-barrel decrease expected in a survey compiled by Bloomberg.In corporate news, BP (BP) said Wednesday it agreed to sell BP Ventures' minority interests in more than 10 portfolio companies to European private equity firm Verdane. BP shares were off 0.7%.Shell (SHEL) has kicked off a tendering process for drilling services at its Dragon offshore gas project in eastern Venezuela, pressing ahead with its plan to start drilling four wells from Q2 2027, Reuters reported. Shell shares were down 0.2%.Halliburton (HAL) said it was awarded a multiyear contract from Aramco to provide stimulation and completion services supporting unconventional gas development in Saudi Arabia. Halliburton shares were shedding 1.2%.

$BP$HAL$SHEL
Wire

Shell's ARC Acquisition Builds LNG Prospects as Investors Seek Clearer Growth Drivers, RBC Says

Shell's (SHEL) acquisition of ARC Resources adds portfolio optionality and supports LNG growth, though the company may still fall short of what investors are seeking, RBC Capital Markets said Wednesday in a report.Recent Middle East developments have shifted investor attention from shareholder distributions toward long-term portfolio strength, the report said. Shell's recent underperformance has made its valuation more compelling even as RBC sees a risk that the company is becoming "ruthlessly well run" without offering the clearer growth catalysts and strategic momentum investors increasingly want.The ARC deal supports the potential for a final investment decision on LNG Canada Phase 2, the report said. It also strengthens Shell's liquids portfolio and provides integration benefits and feed gas for future LNG expansion, RBC said."We expect Shell to continue to be acquisitive on smaller deals to help replenish the upstream hopper and provide stronger platforms for growth in the 2030s," the report said.RBC resumed coverage of Shell with a sector perform rating and a price target of 4,000 British pence ($53.92).Price: $84.28, Change: $-0.13, Percent Change: -0.15%

$SHEL
Wire

Delta Scales Sustainable Aviation Fuel Usage Across US With Shell Aviation

Delta Air Lines (DAL) said Wednesday it plans to use sustainable aviation fuel across multiple US hubs and priority cities, supported by a five-year agreement with Shell (SHEL) through 2030.Key US hubs include Los Angeles International Airport, Portland International Airport, John. F. Kennedy International Airport, Logan International Airport, and Minneapolis-St. Paul International Airport, the company said.Beyond expanding access to sustainable aviation fuel, the collaboration focuses on how fuel reaches aircraft, with Shell Aviation supporting both blended and neat SAF deliveries, the company added.Price: $85.95, Change: $+0.44, Percent Change: +0.51%

$DAL$SHEL
Sectors

Sector Update: Energy Stocks Edge Higher Premarket Wednesday

Energy stocks were edging higher premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.1%.The United States Oil Fund (USO) was up 0.8% and the United States Natural Gas Fund (UNG) was 1.5% lower.Front-month US West Texas Intermediate crude oil was 0.4% higher at $79.64 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.1% to $84.77 per barrel, and natural gas futures were down 1.1% at $2.87 per 1 million British Thermal Units.Shell (SHEL) has kicked off a tendering process for drilling services at its Dragon offshore gas project in eastern Venezuela, pressing ahead with its plan to start drilling four wells from Q2 2027, Reuters reported, citing two people familiar with the process. Shell stock was up more than 1% pre-bell.Halliburton (HAL) said it was awarded a multiyear contract from Aramco to provide stimulation and completion services supporting unconventional gas development in Saudi Arabia. Halliburton shares were 0.2% higher premarket.

$HAL$SHEL$UNG$USO$XLE
Sectors

Sector Update: Energy

Energy stocks were leaning lower premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) marginally declining.The United States Oil Fund (USO) was up 0.2% and the United States Natural Gas Fund (UNG) was 1.7% lower.Front-month US West Texas Intermediate crude oil was 0.4% higher at $79.69 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.3% to $84.96 per barrel, and natural gas futures were down 0.3% at $2.89 per 1 million British Thermal Units.Shell (SHEL) has kicked off a tendering process for drilling services at its Dragon offshore gas project in eastern Venezuela, pressing ahead with its plan to start drilling four wells from Q2 2027, Reuters reported, citing two people familiar with the process. Shell stock was up more than 1% pre-bell.

$SHEL
Commodities

Market Chatter: Shell Advances Venezuela Gas Project; Drilling Targeted in 2027

Shell (SHEL) plans to award a drilling service contract for its 4.2 trillion-cubic-foot Dragon offshore gas project in eastern Venezuela by late September, as it aims to drill four wells from Q2 2027, Reuters reported Tuesday, citing people familiar with the matter.The company has begun tendering for the required services and a contract will be awarded following a positive final investment decision, sources told the news agency. The advance shows that Shell is taking the project forward after years of delay caused by shifting US policy toward Venezuela.Gas produced from the Dragon project will be transported to Trinidad, with about 70% of the output to be routed to the Atlantic LNG export facility and the remaining 30% to the domestic petrochemical industry, the report said.Shell did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$SHEL
Equities

Market Chatter: Shell Sets in Motion Process to Progress Venezuela's Dragon Offshore Gas Project

Shell (SHEL) has kicked off a tendering process for drilling services at its Dragon offshore gas project in eastern Venezuela, pressing ahead with its plan to start drilling four wells from Q2 2027, Reuters reported Tuesday, citing two people familiar with the process.The contract is expected to be awarded by the end of September, the people told the news agency, if a positive final investment decision is made for the 4.2 trillion-cubic-foot development.Shell did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$SHEL
Commodities

ARC Resources Wins Shareholder Backing for Shell Acquisition

ARC Resources said Tuesday its shareholders approved the previously announced arrangement with Shell (SHEL), moving the proposed transaction closer to completion.Shell agreed earlier this year to acquire the Canadian natural gas producer in a transaction valued at about $16.4 billion, including debt, expanding its position in Canada's Montney shale basin.ARC said 99.54% of votes cast at a special shareholder meeting supported the deal.ARC added that it has secured key regulatory approvals under the Competition Act, the Canada Transportation Act, and the Hart-Scott-Rodino Antitrust Improvements Act of 1976.The Alberta Securities Commission also granted Shell exemptive relief for its UK and Netherlands share buyback programs, thereby satisfying another closing condition.The Court of King's Bench of Alberta is scheduled to hear the arrangement application on Wednesday. Subject to court approval, remaining regulatory clearances and customary closing conditions, ARC expects the transaction to close in the second half of 2026.Following completion, ARC expects its shares to be delisted from the Toronto Stock Exchange, the company said.

$SHEL
Sectors

Sector Update: Energy Stocks Advance Late Afternoon

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index up 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.2%.The Philadelphia Oil Service Sector Index was down 0.3%, and the Dow Jones US Utilities Index was fractionally higher.President Donald Trump withdrew his proposal to charge a 20% toll on cargo transiting the Strait, according to his social media post on Tuesday. "Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States." There will be a "FULL Blockade, but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo," Trump said on Truth Social.Front-month West Texas Intermediate crude oil rose 2% to $79.70 a barrel, and the global benchmark Brent crude contract gained 2.4% to $85.30 a barrel. Henry Hub natural gas futures increased 0.7% to $2.92 per 1 million BTU.In corporate news, Thomas Barrack, US special envoy for Syria and Iraq, has held talks with officials from both countries as well as Chevron (CVX) and other companies about reviving a defunct pipeline running from Iraq to the western coast of Syria, Bloomberg reported. Chevron shares were down 0.2%.Patterson-UTI Energy (PTEN) shares rose 1.6% after Piper Sandler upgraded the stock to overweight from neutral.Shell (SHEL) will receive a production-linked tax credit from Nigeria for its Bonga Southwest Aparo deepwater project, Bloomberg reported. Shell shares were up 0.4%.Bloom Energy (BE) short sellers have made key mistakes on the company's access to the rare-earth mineral scandium and ignore its recent filings showing it has resolved its sourcing constraints, RBC said in a note. Bloom Energy shares rose 4.2%.

$BE$CVX$PTEN$SHEL
Sectors

Sector Update: Energy Stocks Decline Tuesday Afternoon

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.2%.The Philadelphia Oil Service Sector Index was down 0.3%, and the Dow Jones US Utilities Index decreased 0.2%.President Donald Trump withdrew his proposal to charge a 20% toll on cargo transiting the Strait, according to his social media post on Tuesday. "Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States." There will be a "FULL Blockade, but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo," Trump said on Truth Social.Front-month West Texas Intermediate crude oil rose 1.2% to $79.04 a barrel, and the global benchmark Brent crude contract gained 1.5% to $84.53 a barrel. Henry Hub natural gas futures decreased 0.1% to $2.89 per 1 million BTU.In corporate news, Shell (SHEL) will receive a production-linked tax credit from Nigeria for its Bonga Southwest Aparo deepwater project, Bloomberg reported. Shell shares were up 0.3%.Bloom Energy (BE) short sellers have made key mistakes on the company's access to the rare-earth mineral scandium and ignore its recent filings showing it has resolved its sourcing constraints, RBC said in a note to investors on Tuesday. Bloom Energy shares rose 2.7%.American Resources' (AREC) ReElement Technologies unit received a $25 million investment from the US Department of Defense through the Industrial Base Fund to expand domestic rare earth refining capacity at its Marion, Indiana, facility, the company said Tuesday. American Resources shares jumped past 6%.

$AREC$BE$SHEL
Sectors

Sector Update: Energy

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index easing 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.3%.The Philadelphia Oil Service Sector Index was shedding 0.3%, and the Dow Jones US Utilities Index decreased 0.2%.President Donald Trump withdrew his proposal to charge a 20% toll on cargo transiting the Strait, according to his social media post on Tuesday. "Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States." There will be a "FULL Blockade, but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo," Trump said on Truth Social.Front-month West Texas Intermediate crude oil rose 1.2% to $79.08 a barrel, and the global benchmark Brent crude contract gained 1.7% to $84.69 a barrel. Henry Hub natural gas futures was slightly higher at $2.90 per 1 million BTU.In corporate news, Shell (SHEL) will receive a production-linked tax credit from Nigeria for its Bonga Southwest Aparo deepwater project, Bloomberg reported. Shell shares were up 0.4%.

$SHEL
Oil & Energy

Market Chatter: Nigeria Expands Deepwater Tax Incentives Starting With Shell Project

Nigeria approved a production-based tax incentive for Shell's (SHEL) Bonga Southwest Aparo deepwater project, while planning to extend the benefit to other major oil companies developing new offshore projects, Bloomberg reported Tuesday, citing people familiar with the matter.The terms, approved by President Bola Tinubu to move the project toward a final investment decision, provide Shell and its partners with an $11.50-per-barrel rebate, more than twice the standard incentive, according to the report.Nigeria intends to keep the incentive available for new deepwater projects through at least 2029. Shell also sought publication of the order in the official gazette after concerns that future administrations or court rulings could overturn the executive order, the report added.Shell did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $84.66, Change: $+0.68, Percent Change: +0.81%

$SHEL
Sectors

Sector Update: Energy Stocks Edge Higher Pre-Bell Tuesday

Energy stocks were edging higher pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.7%.The United States Oil Fund (USO) was up 2.9% and the United States Natural Gas Fund (UNG) was 0.1% higher.Front-month US West Texas Intermediate crude oil was 3.5% higher at $80.85 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 4.3% to $86.91 per barrel, and natural gas futures were down 1.3% at $2.86 per 1 million British Thermal Units.BP (BP) said its Q2 results are expected to include post-tax adjusting items relating to impairments of around $1 billion. BP shares were up more than 1% premarket.Shell (SHEL) will receive a production-linked tax credit from Nigeria for its Bonga Southwest Aparo deepwater project, Bloomberg reported, citing people familiar with the matter. Shares of Shell were nearly 1% higher pre-bell.Ranger Energy Services (RNGR) shares were up more than 1% after the company said it has entered into a contract with Hess, a wholly owned subsidiary of Chevron (CVX), to deploy three additional ECHO hybrid workover rigs.

$BP$CVX$RNGR$SHEL$UNG$USO$XLE

Showing 141-160 of 335

Track with the FINWIRES app suite

FolioX
FolioX
Track Shell plc in your portfolio
WheelAI
WheelAI
Analyze Shell plc options with the wheel strategy
StockInsider
StockInsider
See market sentiment on Shell plc