Shell stock reaches record high of €42.13, highest level since 2005
Shell reached a new intraday peak on Monday, breaking through an unprecedented level in over two decades, against a backdrop of severe tensions in oil markets. The stock is advancing while European exchanges are trading in negative territory, illustrating the decoupling of the energy sector from the broader market.
A record of €42.13 set amid persistent oil shock
Shell touched €42.13 during trading on Monday, thereby beating its previous record dating back to 2005, which stood at €42.10. The current price of €42.01 has pulled back slightly from this intraday peak, but the gain remains solid at +1.44% over the session, following an increase of nearly 5% over the past week. This rebound is taking place in a high-pressure oil environment: Brent is trading at $107.55 per barrel during the session, up 2.81%, driven by the closure of the Saudi East-West pipeline following Houthi drone strikes and persistent tensions around the Strait of Hormuz. These physical supply disruptions, which threaten up to 4% of global production, mechanically support integrated names like Shell.
Over three months, the stock shows a gain of 12.6%, and over twelve months, the increase reaches 37%. This record comes against a backdrop of solid recent fundamentals: the agreements to divest RISEC and repurchase Hunlock, signed in September, testify to an active strategy of reshaping its North American asset portfolio. Adjusted earnings for the first half of 2026, published in late July, reached $16.8 billion, up 68%, consolidating the image of a group whose profitability is advancing significantly. According to consensus analyst estimates, the stock trades at approximately 8.7 times current-year earnings, a contained valuation for an oil major in a phase of strong profit growth.
A technical configuration in overbought territory, with the €43 resistance in sight
On the market indicators side, the configuration is decidedly bullish across all time horizons. The stock is trading above the 20-day moving average at €39.98 (a spread of +5.08%), above the 50-day moving average at €38.65 (+8.69%) and well above the 200-day moving average at €35.96 (+16.82%). This structure evidences a firm uptrend across all timeframes. On the downside, the RSI has climbed to 72, signaling an overbought configuration that can precede consolidation phases, even though a high RSI in a strong trend can remain at these levels for some time. The next technical marker above the current price is the psychological threshold of €43, a round prospective level with no prior resistance history above the stock.
Below, the immediate support lies at €38.39, corresponding to the previous resistance breached during the last advancement phase. The European market offers a contrasting backdrop: the CAC 40 is down 0.92% and the SBF 120 is falling 0.9% during the session, while the VIX has jumped 14.52% to 18.14, signaling a marked rise in implied volatility amid a "super week" for central banks (Fed on Wednesday, Bank of England on Thursday, Bank of Japan on Friday). Shell is navigating against this general caution. The next dividend payment is scheduled for September 21, 2026, with the second quarter interim dividend fixed at €0.3366 per share.
