Shell share: Strong IT year begins with an increase in oil price!
Shell share: Strong IT year begins with an increase in oil price!
On January 7, 2025, Thorsten Küfner from the investor magazine "The Shareholder" reported on the positive development of the Shell PLC share. The ISIN is GB00BP6MXD84, the WKN is A3C99G, and it is traded under the ticker symbol R6C0 on the London Stock Exchange.
The Shell share recorded a gratifying start to the new IPO year, with the main reason for the increase in increasing oil prices that have reached the highest level in three months. Saudi Arabia plans to increase crude oil prices for its customers in Asia in the coming month. This price increase is interpreted as an indicator of an expected shortage of the offer in the Asian market. In addition, the Opec+ has postponed its plans to increase production.
market analysis and assessments
The increase in oil prices has significantly improved the chart image of Shell. Analysts consider the stock to be attractive thanks to the strong market position, a solid balance sheet and a cheap assessment. The stop for the "shareholder", which was first pronounced in autumn 2020, remains at 26 euros.
In addition, in a report by The shareholder confirmed that the Shell share also had a strong start into the new year. The oil prices rose on Monday, with the price for a barrel of the North Sea variety Brent (delivery in March) at $ 77.11 (+66 cents since Friday) and the price for a Barrel US variety WTI (delivery in February) increased to $ 74.66 (+70 cents).
experts consider the price increase through Saudi Arabia as a sign of a shortage of the offer in the largest market. The Opec+ has also postponed its plans to increase production. Analysts support the dividend titles, with Jefferies leaving the classification for Shell on "Buy". Analyst Giacomo Romeo expects a year in the energy sector for 2024, with important aspects such as deregulation and global demand growth. Shell is considered the company with the best capital allocation among the large European oil companies.
-transmitted by West-Ost-Medien
Details | |
---|---|
Ort | Kulmbach, Deutschland |
Quellen |
Kommentare (0)