Shell Stock Sets Record at €41.39, Highest Level in 21 Years
Shell posted its highest level in 21 years on Wednesday, approaching €42 in a session marked by a surge in crude oil. The stock advances contrary to a CAC 40 in sharp decline, benefiting from a tense petroleum context driven by geopolitical risks in the Middle East.
A 21-Year Record Set as Brent Surpassed the Symbolic $100 per Barrel Threshold
Shell touched €41.39 during trading on Wednesday, surpassing the previous peak of €41.36 dating from 2005 and thus setting a 21-year record. The stock is now trading at €41.07, up 0.51% from the previous close at €40.86, in a day when the CAC 40 declined nearly 2% and the SBF 120 fell 1.8%. This resilience is directly explained by the surge in oil: Brent advanced nearly 2% to over $100/barrel today, in the wake of Houthi attacks on Saudi energy installations in Abha, Khamis Mushait and Jazan that forced the temporary shutdown of certain operations.
Over the past eight trading sessions, crude has gained nearly 9.8%. Several major banks, including Morgan Stanley and Goldman Sachs, have raised their price forecasts for the end of 2026 and 2027, anticipating the persistence of maritime disruptions via the Strait of Hormuz. Shell furthermore benefits from solid recent fundamental anchoring: the acquisition of Arc Resources, finalized on September 2, 2026 for $16.5 billion, added approximately 370,000 barrels of oil equivalent per day to the group's production.
A Solid Bullish Technical Configuration, with the €42 Resistance Level in Sight
The stock displays three moving averages clearly exceeded: it is trading 3.57% above its 20-day MA at €39.65, 7.47% above its 50-day MA at €38.21, and 14.67% above its 200-day MA at €35.81. This underlying bullish momentum is confirmed by an RSI at 67, in the high zone but without an extreme overbought signal. The MACD remains positive with a histogram at 0.10, consistent with the momentum of recent weeks that has brought the stock to more than 9.6% over three months and more than 34% over one year.
The next reference above the current price is the psychological level of €42, a prospective benchmark without any previous technical precedent, while the immediate support is located at €37.85. On the dividend front, the interim dividend for the second quarter of 2026, announced on July 30 and converted to €0.3366 per share, was communicated on September 7. According to the consensus of surveyed analysts, the stock is trading at approximately 8.3 times the earnings of the current fiscal year, a moderate valuation that contrasts with the recent price advance.
