Shell (LON:SHEL) holds steady after $3B U.S. asset sale lines up with buyback plan
Shell plc ticked down 0.05% to 2,898.00p/2,898.50p on a delayed AJ Bell quote around 1300 BST after trades just before 1259 BST. The FTSE 100 dropped 0.15% to 10,636.88 at 1257 BST. Brent crude hovered near $72 a barrel, oil benchmarks touching lows not seen since before the U.S.-Israeli war on Iran. The main story isn’t the slight move in the stock. Shell has pushed out $3.0 billion in U.S. asset sales in three days: a $1.3 billion sale of Jiffy Lube International and Premium Velocity Auto just closed, and a $1.7 billion agreement to sell Gulf of America assets to Talos Energy Inc and Ridgewood Energy. That lines up with the $3.0 billion buyback Shell revealed after Q1 results,