Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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An interesting article. So, with dividends reinvested, a £100 investment in BP 25 years ago would today be worth £302. That's an average annualised compound return of 4.525%
Do you expect a different return over the next 25 years?
A £100 investment in a simple global equity tracker fund 25 years ago would today be worth £862. Less risk and better return!
OPEC is meeting again next week and expectations are that it will leave its production policy unchanged.
S. benchmark crude gained over $2 on Thursday as U.S. crude inventories tightened and OPEC+ vowed to keep the output cut status quo as tensions continued to flare in the Middle East and Russia-Ukraine.
At 4:23 p.m. ET on Thursday, U.S. crude benchmark West Texas Intermediate (WTI) trading up 2.05% at $83.02, while global benchmark Brent crude was trading up 1.61% at $87.48.
WTI has gained 14% so far this year.
This week’s inventory data from the Energy Information Administration (EIA) showed a U.S. crude oil stockpile build of 3.2 million barrels, compared to the previous week’s draw of 2 million barrels. In both cases, the data showed a draw in gasoline inventories, helping to support oil prices.
That data, released on Wednesday, put downward pressure on oil prices initially. However, after some time to digest the data, which analysts said was a smaller increase than anticipated for this time of year, prices shifted into rally mode.
"We ... expect U.S. inventories to rise less than normal in reflection of a global oil market in a slight deficit," Reuters quoted SEB analyst Bjarne Schieldrop as saying. "This will likely hand support to the Brent crude oil price going forward."
Also putting upwards pressure on oil prices is the continued intensification of the Russia-Ukraine conflict, which has focused most recently on energy infrastructure.
A Ukrainian drone attack last week on a Russian refinery operated by state-run Rosneft has resulted in a production shutdown after damage to the refinery’s crude processing capacity.
Ukraine has stepped up attacks on oil refineries in Russia in recent weeks, which have reduced Russian refining capacity, and which, reportedly, have the White House concerned about rising international prices.
Ukrainian drone attacks on Russian refineries in recent weeks have taken out as much as 600,000 barrels in daily processing capacity in Russia.
On Thursday, JP Morgan suggested that oil prices could rise further, pointing to Russia’s decision to impose additional curbs on production.
“Russia's actions could push Brent oil price to $90 already in April, reach mid-$90 by May and close to $100 by September,” they wrote in a note, as quoted by Investing.com.
Agreed
Happy Easter to all
And don’t forget BP plans to sell 2 million eggs so do your part.
No sneaking into Tesco
Https://financialpost.com/pmn/business-pmn/senegals-new-leader-plans-to-revisit-oil-deals-with-bp-kosmos
Happy Easter
Onwards and upwards :))))))))
Don't forget dividends paid today, taken cash, will we see 5.50p this summer, Occidental Ceo forecast oil shortage 2025 , should propel oil sectors Sp ...atb
Https://www.calendarlabs.com/lse-market-holidays-2024/
Nb closed Good Friday and Easter Monday
( but bet you all already knew that)
Moy, misleading is a bit strong, so I withdraw that. Have a good Easter.
We entered Q1 with brent at $77, its now at $87 - depends on your definition of quarterly gain.
Refer back to my previous post on not watching day to day movements, the 3 month price rise is strong and based on continuing bullish macro forces. If POO drifts in the 77-87 range all year I'll be a happy (and richer) man
Thanks Charlie
It’s not like Oilprice to be misleading ( joking as their headlines can be a bit hit or miss)
You are my go to guy for real facts ( especially on buybacks)
Moy, there is a definite positive change in the oil price momentum, but the headline is misleading. BP's own data since 2023.
Average Brent oil price.
Q1 23-$81.17.
Q2 23-$78.05.
Q3 23-$86.75.
Q4 23-$84.34.
Q1 24-$82.89(to date).
25 years of ISAs: what we have learned
https://www.fidelity.co.uk/markets-insights/personal-finance/personal-finance/25-years-of-isas-what-we-have-learned/
Big companies to leave UK for Newyork
Crikey meoryou, Tesco better watch out !!
WP
agreed
The longer the market undervalues BP the bigger the mistake they will have to correct.
With buybacks this error is being magnified.
If the disconnect between real value and sp gets too big.
Someone will find it too big a bargain to miss.
Meanwhile the fundamentals will continue to improve
Said it a million times before, don't get dragged into day to day movements if you're in an energy/utilities stock. We're so driven by macro forces that its wasted energy.
As long as I think the business remains undervalued, is generating healthy levels of cash, strengthening the balance sheet and continues to pay a competitive shareholder return for the sector I'm happy to hold, collect the divi and wait for the rise.
Macro factors I see are:
1. War is ongoing and disrupting energy supply chains
2. Inflation is coming down and supply remains tight, bullish for oil price
3. Saudi princes magic mushroom dreams of building ski resorts in the desert remain
4. US is now the worlds leading oil producer - if they slow production (e.g. political, operational reasons) then oil price booms
Monday was the day , 505, I waited expecting the peak to be Tuesday,we're now 15p down
Might not be under a fiver if we concentrated on oil and gas rather rather than fecking cream eggs and sausage rolls!
Trying for a little feel good factor since we are back below £5
Https://www.bp.com/en_gb/united-kingdom/home/news/press-releases/easter-egg-stravaganza.html