Shell and major oil producers saw sharp share price declines on Monday. The sell-off followed a significant drop in global crude oil prices.
Brent crude fell over 6% during the session. The international benchmark reached approximately $90.87 per barrel. Prices traded above $101 per barrel during the previous week.
Shell shares dropped approximately 1.7% in London trading.
A pause in U.S. strikes on Iran drove the market movement. This development increased hopes for a ceasefire and reduced fears of a broader Middle East conflict.