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Shell Stock Slips 5%

Shares of are Shell plc (SHEL) are slipping over 5% on Thursday morning, after the energy giant's CEO warned of oil supply constraints during winter.

SHEL is currently trading at $45.35, down $2.43 or 5.08%, on the NYSE. The stock opened its trading at $45.33 after closing Wednesday's trading at $47.78. The stock has traded between $36.32 and $61.67 in the past 52-week period.

Shell CEO Ben van Beurden warned that Europe may need to ration access to energy this winter, as he expects oil prices to to rise further if Russia continues to control gas supply to European nations.

According to Van Beurden, Russian President Vladimir Putin could completely suspend Russian gas exports to Europe. "I think we will be facing a really tough winter in Europe," he told at an energy conference in Oxford on Thursday.

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