SHEL: Shell Stock Hits Record High as Israel-Hamas War Tensions Fuel Oil Price Rally

The London-listed company crossed £184bn in valuation as its shares have climbed about 5% since the Middle East conflict flared up.

• Shell stock SHEL soared to a record high in early UK morning Tuesday following another wave of buying propelled by the rising tensions in the Middle East. The London-listed oil company ticked up 0.8% in first deals today, eclipsing a £184bn valuation.
• Oil prices have surged this past week in the wake of the Israel-Hamas conflict. The clashes threaten to disrupt the global oil supply chain and traders are having a cash bonanza on that feared flow disruption. Analysts warn the oil situation may get worse if the conflict spills over to adjacent regions.
• Shell, Europe’s largest oil player, reaped bumper profits in recent years, buoyed by Russia’s invasion of Ukraine, which pushed oil prices to multi-year highs. As the Middle East conflict unfolds, energy-market participants are keeping a close eye on oil and its potential to hit $100 a barrel – a target that sits about 10% away from current prices near $90.