Shell Shares Rally Over 5% as Brent Crude Jumps 9% to $79.36
Shell shares rallied over 5% today after Brent crude spiked 9% to $79.36 per barrel following US-Israel operations against Iran. The FTSE 100 opened 82 points lower at 10,828 as airlines and banks dragged the index down while defence names gained up to 6.9%.
1. Shell Share Rally
Shell stock climbed more than 5% in early London trading, outperforming most blue-chip peers as oil producers attracted investor flows.
2. Geopolitical Trigger and Oil Price Surge
Renewed US and Israeli military operations against Iran triggered a 9% surge in Brent crude to $79.36 a barrel, a peak not seen since early last year.
3. FTSE 100 Market Context
The FTSE 100 opened down 82 points at 10,828, with British Airways owner IAG falling 9.8%, Informa down 6.7% and IHG off 5.3%, while defence firms led risers with BAE Systems up 6.9%.
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Sources
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