The Shell (LON: SHELL) share price is increasing as investors echo the demand and supply amid the Ukraine crisis intensify. The stock is trading at 2,020p, slightly below its 2,330p highest. Hence the over 150% rise from its 2020 lowest.
Crude oil and natural gas recovery
Shell, formerly known as Royal Dutch Shell, is one of the largest energy groups globally. The firm has an over $194 billion market capitalization with global operations.
The company drew attention lately when Daniel Loeb reported stake acquisition in the firm and began to push management to cut itself off. It did not accept the proposal because it ran a significant oil business since its cash flows fund its clean energy business.
Furthermore, the company reported a major corporate structure change, movings its headquarters from the Netherlands to London and changing how its stock is listed. It is currently primarily listed in London and New York; therefore, its dual structure completion was beneficial to shareholders.
Moreover, the shell share price hiked lately regardless of the firm declaring exit from Russian business, which served as a significant market to the firm due to its many gas stations and upstream projects.
Majorly, the shell price has improved due to the sharp rise of crude oil and natural gas prices due to surging demand and low supplies. Hence, analysts predict a boost in dividends and share buybacks this year. It has a trailing dividend yield of 0.94% and a forward yield of 3.75%.
The daily chart indicates that the Shell share price has risen solidly lately. The rally increased with a move above the key resistance level at 1,780p, the highest in October 2021. it has moved above the 25 and 50-day exponential moving averages (EMA).
Concurrently, the MACD has formed a bearish divergence trend. Hence, the bullish trend will be confirmed if the stock moves above the key resistance level 2,060p, which is the highest in 2022.
