01:18 PM EDT, 06/25/2025 (MT Newswires) -- (Updates with BP's reply to a request for comment in the last paragraph.)

Shell (SHEL) denied a report by The Wall Street Journal that it is in early talks to acquire BP (BP), Bloomberg reported Wednesday, citing a Shell spokesperson.

"This is further market speculation," the spokesperson said, according to Bloomberg. "No talks are taking place."

BP shares rose 1.8% in recent Wednesday trading, paring earlier gains. Shell dropped 0.6%.

BP declined to comment when reached by MT Newswires, while Shell did not immediately reply to a request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 30.38, Change: +0.55, Percent Change: +1.84