BP and Shell Shares Surge as Hormuz Tensions Drive Energy Prices Higher

Key Facts

1BP and Shell shares led gains on the FTSE 100 index as crude oil and natural gas prices rebounded.

2BP stock climbed to 534p, marking an 18.5% increase from its July low.

Amid escalating geopolitical risks threatening global energy corridors, shares of BP and Shell led gains on the UK's FTSE 100 index. This surge was driven by a significant rebound in crude oil and natural gas prices following threats to close the Strait of Hormuz. According to reports, BP's share price reached 534p, marking an 18.5% increase from its July low.

This robust performance by energy giants reflects the market's rapid response to potential supply disruptions, as major producers benefited from improved investor sentiment toward the oil sector. Per market data, SHEL.L closed at 3298p on August 10, 2026, having reached an intraday high of 3310.5p. These moves come as global markets monitor the stability of energy flows through vital waterways.

Looking ahead, traders are watching support levels for SHEL.L at 3258p, the low recorded during the August 10, 2026 session. With no immediate catalysts in the upcoming economic calendar for the UK energy sector, focus remains firmly on field developments in the Strait of Hormuz and their direct impact on commodity prices.

Sources:

invezz.com