Shell: Q2 Update Suggests A Share Price Bump, Once Iran Crisis Ends

Shell is positioned to benefit from elevated European LNG prices, despite near-term disruptions in its Qatar operations due to the Iran crisis. I initiated a peripheral position in SHEL after a 10% pullback, viewing the LNG market outlook and share price discount as attractive entry points. Shell's Q2 guidance suggests stable upstream production, improved downstream margins, and a volatile but potentially lucrative LNG segment amid market disruptions. I plan to add incrementally on further declines and take profits above $90, while maintaining Shell as a non-core holding given upstream reserve concerns.

With the Iran crisis seemingly winding down, we have seen oil prices return to near-normal, pre-conflict levels this month. It is not so much the case for Europe's TTF natural gas spot price, which tends to