Shares in oil major Shell (SHEL.L) fell 3.2% on Monday, after the company warned that it expected to report lower trading and production results for its gas division in the second quarter.
Shell lowered the top end of its production guidance for the integrated natural gas division to 900,000 to 940,000 barrels of oil equivalent per day (boe/d) for the quarter, compared with a range of 890,000 to 950,000 previously given.
The upper end of its outlook for its liquefied natural gas (LNG) production was also lowered, to 6.4 to 6.8 million metric tons compared with a previous range of 6.3 to 6.9 million tons.
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Dan Coatsworth, an investment analyst at AJ Bell (AJB.L), said: “Shell’s latest quarterly results teaser has created trepidation that the numbers will be a dud.
“Shell will be announcing its upcoming earnings amid considerable volatility in the energy market and the wider global economy.
“Shell may face further questions when it unveils its results in full later this month about its intentions with regards to BP. Despite widespread speculation, Shell has denied it has any intention of merging with its stricken counterpart, but the story refuses to go away as BP’s struggles continue.”
Shares in Tesla (TSLA) slid more than 6% in pre-market trading on Monday after CEO Elon Musk said he was launching a new political party.
Musk asked X users in a poll on the Independence Day holiday on Friday whether the “America Party” should be created.
In another post on Saturday, Musk said: “By a factor of 2 to 1, you want a new political party and you shall have it! When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy. Today, the America Party is formed to give you back your freedom.”
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Musk had said during his public feud with US president Donald Trump that he would look to form a new party. His latest comments came after Trump signed his “big, beautiful bill” into law on Friday, to which Musk was strongly opposed.
In response to Musk’s plans, Trump said in a post on Truth Social on Sunday that the Tesla CEO had gone “off the rails”.
“He even wants to start a Third Political Party, despite the fact that they have never succeeded in the United States – The System seems not designed for them,” Trump said.
Veteran tech analyst Dan Ives of Wedbush said on X on Sunday that Musk diving deeper into politics “is exactly the opposite direction that most Tesla investors want him to take during this crucial period” for the company, adding that it was causing “exhaustion” for many investors.
