Shell is leading the FTSE100 on a weaker pound and a stronger oil price.
The industry major’s shares are up 49.5p to 1963.5p. Its B shares also climbed 7.3p to 457.3p.
It comes after Brent crude peaked over the $50 mark at $50.69. The steady climb started in the wake of OPEC’s decision to curb output.
BP’s shares also improved, rising 7.3p to 457.3p. The increase comes as BP battles a North Sea oil leak.
Babcock International was also up 17p to £10.52. JP Morgan raised its target price for Babcock from £14.27 to £14.40.
However, Sterling slid after Theresa May outlined her deadline for Brexit. The political leader will trigger article 50 by the end of March next year – a move which will kick-start a two year process of unhinging from the European Union.
The weaker pound helped boost commodity companies.
Elsewhere, an exclusive interview reported the Chancellor is poised to snub further pleas for help from the oil and gas industry amid the continuing downturn. Read more here.