SHARES in Shell hit a record high on Monday morning, peaking at 2,764 at 11.15am.
It marks a huge increase of more than 200% since 2020, when shares in the pandemic slumped as low as 878.3.
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Shell has been in high demand with concerns about how the escalating fighting between Israel and Hamas could affect supplies from the Middle East.
Shares rose 42p, or 1.5%, to the record high.
Higher commodity prices, particularly from natural gas in Europe, has contributed to the price being driven up.
Since the price collapsed during the pandemic, Shell has accelerated its shift to cleaner forms of energy and pledged to hit net zero greenhouse gas emissions by 2050.
Wael Sawan, who took over as Chief Executive Officer at the start of 2023, has maintained the target but is directing a greater proportion of the company’s investment into oil and gas.
