Oil company shares soar to all-time highs as Middle East war turbocharges price per barrel

Following the outbreak of conflict between the US, Israel, and Iran, major oil companies experienced unprecedented stock market gains. The six western super majors saw combined market value increases exceeding $130bn within two weeks. Shell reached an all-time high of £190bn on the London Stock Exchange, gaining approximately 12% since late February. ExxonMobil and Chevron climbed 5% and 7% respectively, reaching valuations of $630bn and $390bn. BP, TotalEnergies, and ENI also recorded substantial gains of 12%, 10%, and 13% respectively. The energy supply shock from Middle East conflict drove these valuations despite production disruptions, with consultancies projecting multibillion-dollar windfalls for the industry.

"The combined market value of the six stock market-listed western super majors has soared by more than $130bn in the two weeks since the first US-Israeli attacks on Iran. The energy supply shock caused by the conflict has resulted in record stock market valuations for London-listed Shell, Europe's largest oil company, as well as US oil companies ExxonMobil and Chevron."

"Shell was valued at an all-time high of 190bn on the London Stock Exchange on Friday, up by about 12% since 27 February. The sharp rise in prices has been enough to offset the impact of a production shutdown at Qatar's main liquified natural gas facility, which forced Shell to declare force majeure on deliveries from the site to its customers."

"US oil companies can expect a $63.4bn boost, according to consultancy Rystad Energy. Separately, analysts at Goldman Sachs have predicted a combined 5bn windfall for BP and Shell."

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