SHEL is trading at $89.52 (-4.92%) in pre-market as oil prices crater following a US-Iran ceasefire that reopened the Strait of Hormuz.
- Crude oil prices plunged 15% to $95.67, retreating from recent highs above $113 as geopolitical tensions ease.
- The drop contrasts with a broader market rally, with S&P 500 futures gaining +2.52% on news of the truce.
- While Shell is scheduled to release a Q1 update today, the sudden collapse in energy prices remains the primary catalyst for the sell-off.