London, Feb 16, 2026, 07:51 GMT — Premarket
- Shell slipped 0.5% on Friday, finishing at 2,872.5 pence.
- Brent hovered close to $68, with traders watching U.S.-Iran negotiations and any potential shifts in OPEC+ supply.
- Shell is set to go ex-dividend on Feb. 19.
Shell stock starts Monday as crude prices take the lead, after shares closed out Friday at 2,872.5 pence on the London Stock Exchange, slipping 0.5%.
Oil prices hovered near flat in early trade Monday, with Brent sitting close to $67.7 a barrel as the market waited for fresh U.S.-Iran nuclear talks set for Geneva on Tuesday. OPEC+ appears to be moving toward resuming output hikes starting in April, according to Reuters. “With both sides expected to hold firm on their core red lines, expectations are low that a deal can be reached and this is likely to be the calm before the storm,” said Tony Sycamore, market analyst at IG. Thin liquidity means crude could swing “erratic,” notes Sugandha Sachdeva, founder of SS WealthStreet—a heads-up for energy stocks come the open. Reuters
Shell is sticking with cash returns. The company kicked off a $3.5 billion share buyback program in early February, planning to cancel any repurchased shares and shrink its overall share count.
The dividend calendar is another point to watch. Shell’s ordinary shares are set to go ex-dividend on Feb. 19, meaning buyers from that date won’t qualify for the upcoming payout.
Shell, along with BP and TotalEnergies, usually tracks crude in daily trading. Their upstream earnings are closely tied to shifts in oil and gas prices, despite some buffer from refining or trading operations.
Bulls face a clear threat. Should Washington and Tehran move closer to a deal, traders may quickly factor in a jump in Iranian exports—sending oil prices down. Signs of OPEC+ ramping up supply faster? That would only add to the pressure.
There’s a flip side, too. If talks collapse or tensions in the Gulf ramp up again, crude tends to spike—energy stocks usually follow—but the fallout can rattle risk appetite and put pressure on cyclicals.
