SHEL is trading at $87.06 (-2.96%) amid a sharp drop in oil prices after Iranian officials signaled the Strait of Hormuz is fully open for commercial shipping.
- The news eased geopolitical risk premiums that had previously bolstered energy sector valuations.
- Shell's stock is sliding in tandem with the broader energy sector, diverging from a tech-led rally in the wider market.
- No company-specific catalysts, such as earnings reports or deal announcements, were cited for the move.