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Probably because BP didn't cut its dividend in 1st quarter like RDS. Long hard road back from here
Maybe media trying their hardest to stop trump being re-elected but feel that would suit oil better just for the lack of uncertainty. Remember trump was trailing Clinton 4 years back & that showed how the media lied through their teeth.
Yes Char. Your 'tipping point' certainly being tested.
Worth just saying regarding BP that today brings BP's fall into overall alignment with RDS since pre Covid and pre-Oil war position (ie typical 2019 levels): https://invst.ly/sjuqn
BP did not fall as low as RDS back in March, RDS retested that 890 low a couple of weeks ago - now knocking on the door for a third time. Both are now down just over 60% from 2019 - but for BP it's the first time.
People on advfn talking £8 down to £5, if dividend cut again. Next Thursday will need to be convincing to the markets . The containgo oil sales last time didn't convince them, so let's see what rabbit van burden can pull out the hat this time. I won't hold your breath. People saying when there's a vaccine & when aplanes are at near normal levels, but that's way off imo. So things can only decline somewhat till then. USA stimulus may give brief pause, but other than that it's a bleak outlook. Hope their wrong.
Hi, hope your well. Only hope your assessment is a good one. BP below £2. These are really uncertain times.
Just to add.... BP is clearly suffering since Brent hit a low on Oct 2nd: https://invst.ly/sji-l
The others do not appear to be tracking it yet.
Yes Barrie, Char etc.
On a very long term view, going back to Brent at $85, just over two years ago, we can see that RDS, Exxon and BP have performed very similarly. Chevron however has been much stronger generally, especially since this year’s collapse, and I’m not entirely sure why- any views on that would be welcome. https://invst.ly/sjiuq
For RDS the current dividend yield - around 5% - seems about right for the apparent balance of risk. BP, however, has climbed to 8%, I think, which means that a divi cut is perhaps anticipated? As others here have said, RDS seems unlikely to need to cut the dividend again, which suggests that 890 should represent a ‘floor’. For that reason, I’m not entirely convinced that Char is right about a ‘tipping point’ although I’d have to acknowledge that I’ve mentioned £7 as a possibility myself if RDS is perceived as a deepening risk.
Char333
Sentiment is indeed very poor....but ...in India the daily number of cases has apparently peaked and is falling.
The media is focused on restrictions and lockdowns ..but...within a week to two weeks the effects of those restrictions could turn the tides to the positive., especially if phase 3 test results start to appear too...
Whilst the media becomes obsessed on further mobility restrictions , those restrictions may soon provide positive results to the R Number which may well catch the market out..
The traders are playing one against the other to try and play the bottom of the new trading range as that will be where the profit comes from... but one day those pushing it one step too far down, will get caught out and ...WHAM the tide turns again
Shafted again.
I notice BP have just dropped below the £2 mark.
Yes see Brent futures down 3% currently pushed SP down since I looked earlier in the day
To be honest I don’t expect to see recovery in SP until well into next year off back of a vaccine or therapeutic treaty for Covid and resumption of near normal volumes air travel
OPEC+ also need to tread carefully to balance supply and demand while managing economic fallout of persistently depressed OP on producers
I’m holding for dividend for now
Shell his now getting close to a tipping point. Where gravity comes pulling it down to a level where I fear there's nothing to look forward to but everyday SP going nowhere & things getting more bleak. See Vodafone, Tesco & Sainsbury's where any snippet of good news is celebrated hugely, but SP soon reverts it's course downward.
Thanks Boyo :)
As I often point out, RDS tracks Brent except when it doesn't - in the absence of other influences, variations in OP can start to become apparent in the sp, often to the tune of around 20-25p per $1. It's not a precise link, of course.
It's plainly evident here for RDS and BP, not yet for Chevron as the US market is closed: https://invst.ly/sje1-
Markets in USA falling back recently. Even the tech sector. Netflix didn't do as well as expected yesterday so sentiments went down.
Why has dropped so much today on nightshift just woke can not see anything other than hight cover cases yesterday??