Shell benefits from high oil prices amid Strait of Hormuz blockade, offering strong dividend and buyback potential.

Shell plc is positioned to benefit from elevated oil prices due to the ongoing blockade of the Strait of Hormuz, which has disrupted global energy supply. The company's integrated operations and large trading arm help it thrive despite geopolitical tensions. Shell recently completed a $3.5 billion share buyback and is expected to announce more, supported by strong free cash flow and a 3.2% dividend yield. Investors can consider a moderately bullish income strategy by selling June 85 puts, capitalizing on Shell's stable earnings and structural support for energy prices.