Energy News 3 March 2026

Shell Stock Falls as Qatar Pearl Shutdown Cuts Through the Oil Rally
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Shell Stock Falls as Qatar Pearl Shutdown Cuts Through the Oil Rally

Shell Plc dropped roughly 1.2% in London trading Friday, with shares slipping to 3,421 pence—off by 40 pence—after it suspended output at its Pearl facility in Qatar in response to attacks at Ras Laffan industrial city. That's according to Reuters market data. Why does this matter? Investors are weighing whether gains from pricier oil and gas can offset the blow to Shell’s operations in Qatar. QatarEnergy chief Saad al-Kaabi told Reuters the strikes have sidelined 17% of the country’s LNG export capacity for three to five years. European gas prices surged up to 35% on Thursday.
March 20, 2026
Strait of Hormuz closure pushes oil above $80 and gas to a 3-year high as Iran attacks snarl shipping
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Strait of Hormuz closure pushes oil above $80 and gas to a 3-year high as Iran attacks snarl shipping

Brent crude climbed more than $3 on Tuesday, pushing its three-day rally further as the U.S.-Israeli conflict with Iran ramped up and new threats to shipping in the Strait of Hormuz stoked concerns over potential supply hits. As of 0745 GMT, Brent was trading at $80.89 a barrel; U.S. West Texas Intermediate stood at $73.78, according to Reuters. The Strait of Hormuz—wedged between Iran and Oman—handles roughly a fifth of the world’s oil flows, plus hefty gas shipments. After tanker attacks, vessel traffic has plunged. “Traffic is down at least 80 percent,” Michelle Bockmann, senior maritime intelligence analyst at Windward, told Al Jazeera.
March 3, 2026