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Josh Mahony from IG sums up the forces driving markets and currencies Watch here

Leading commentator Josh Mahony from IG - are we seeing a US$ revaluation?


BP Share Chat (BP.)



Share Price: 440.00Bid: 439.95Ask: 440.00Change: 0.00 (0.00%)No Movement on Bp
Spread: 0.05Spread as %: 0.01%Open: 441.75High: 443.10Low: 438.25Yesterday’s Close: 440.00


Share Discussion for BP


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Daytradenovice
Posts: 135
Off Topic
Opinion:No Opinion
Price:440.00
RE: A bargain below 440
Sat 21:54
Ditto, at this price shall be tucking a couple of thousand extra away on Monday. Getting a little top heavy with oils but got to take the opportunities when they arrive. GLA
 
Daytradenovice
Posts: 135
Off Topic
Opinion:No Opinion
Price:440.00
RE: Maltesers
Sat 21:49
Thanks for posting that Midmod, makes sense to me and can see how that would explain things. Always one to ask the daft questions me.
midmod
Posts: 107
Off Topic
Opinion:No Opinion
Price:440.00
RE: Maltesers
Sat 08:08
Found this explanation somewhere on the web....

There's no empty spaces left behind after oil extraction.

The oil is in microscopic gaps in the rock. The grains of material that make up the rock are irregularly shaped, which means there gaps inbetween them called pores. Other "gaps' might be fractures or fissures.

The pores and fractures connect to make a network, so the water can flow through the rock.

In general, these gaps are filled with water; at depth this is brackish and undrinkable. When oil is generated underground its is less dense than water, so it floats up through the pores and fissures.

Some oil gets to the surface, but some might get stuck below a rock layer that doesn't have small pores or fissures - like a clay, for example.

This trapped oil is like a bubble. The drillbit goes through the "trapping" layer, into the bubble, and the oil can flow out into the borehole and up the surface.

As the bubble shrinks, the water pushes back into the spaces where it was.

There can be some subsidence as Christian Bergland comments, but that is more because of the change in pressure, as opposed to the oil being removed. This usually only happens when a very large oil or gas field is produced for many years.

TLDR; There's no gaps left behind, water flows in to replace the oil. The change in pressure can lead to some subsidence over a long period of time.
sage
Posts: 55,083
Off Topic
Opinion:No Opinion
Price:439.50
aspers ..yes
Fri 13:32
thinking the same..small punt for pocket money..if dollar recovers,general sentiment and usa stockpile drops could yield 10%..
aspers
Posts: 170
Off Topic
Opinion:No Opinion
Price:439.10
A bargain below 440
Fri 12:36
I didnt expect to be able to top up again below 440.....has to be a bargain at this level if for long or trading.
sage
Posts: 55,083
Off Topic
Opinion:No Opinion
Price:439.10
so brent futures
Fri 11:26
up but BP down..presumably a function of the $ falling.
sage
Posts: 55,083
Off Topic
Opinion:No Opinion
Price:447.20
fruitbat
Wed 12:00
I took a small profit and jumped back into ezj @ 1240..so far so good.
fruitbat
Posts: 118
Off Topic
Opinion:No Opinion
Price:445.80
BP to test supports
Tue 15:18
well thought a good buy mid 450's but just dumped 30k shares at 446 as looks soft!!!
no bounce, on reflection I thought Q2 figures disappointing and confused when SP rallied to 472??
thought I was missing something but no just 5k less in the pot!! roll on 406, good luck guys, not as choppy as currencies though !!!!!
sage
Posts: 55,083
Off Topic
Opinion:No Opinion
Price:457.75
piper jaffray
10 Aug '17
sounds like a north sea oil rig.. :)
sage
Posts: 55,083
Off Topic
Opinion:No Opinion
Price:458.55
so piper jaffray
10 Aug '17
applies the kiss of death




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