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Shell Stock Hits 52-Week High - Here's Why
Shell (NYSE: SHEL) hits a new 52-week high at $99.02 as crude oil surges. Discover key technical levels and U.S. power deal updates.
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Shares of oil and gas companies are trading higher amid a rise in crude after reports suggesting that Saudi Aramco deferred and cancelled some September crude cargoes meant for European refiners after the closure of its East-West pipeline to the Red Sea. Also, ongoing Saudi strikes on Yemen's Houthi rebels and a tight global diesel market are helping to support crude prices.
Saudi Arabia Informing Some European Oil Refiners That Their Crude Cargoes For September Loading Are Cancelled After Closure Of East-West Pipeline
– Reuters citing trading sources
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S&P 500 Gains, Crude Falls Ahead Of Fed's Expected First Hike Since 2023: Stock Market Today
Crude tumbles 3.6% on a Saudi pipeline restart, easing yields and lifting chips, while the Fed prepares its first rate hike in nearly three years.