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.
