Brent crude oil prices have risen above $90 a barrel amid ongoing US military strikes on Iran and severely reduced traffic through the Strait of Hormuz. This disruption has led to gains in oil companies like BP and Shell, benefiting from higher margins and market volatility. Conversely, airline stocks dropped due to increased fuel costs, and UK housebuilders fell amid fears of rising interest rates and mortgage costs, despite hopes for government support. The situation remains volatile, with analysts warning of potential further price spikes if the strait remains closed.
Big Oil's top five companies—ExxonMobil, Chevron, BP, Shell, and TotalEnergies—earned a record $48 billion in profits and nearly $90 billion in cash in Q2 2026, driven by high fossil fuel prices linked to U.S.-Iran tensions. Despite this windfall, th...
On August 5, 2026, Shell plc purchased a total of 1,625,000 of its own shares across multiple trading venues including the London Stock Exchange and Chi-X, with prices ranging from £32.74 to £33.47 and €38.33 to €39.16. These shares are bought for ca...
