Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Can you put me down for 533p please?
MarkGo need your entry :)))
Mark need you entry :)))
HI MarkGo, meoryou & all
This is getting very exciting. The last quarter of this year will be very exciting for us
Below the competition
Competition 2023 Christmas ( Bottle of Champagne for winner)
Christmas 2023 Ā£5.85 jakers
Christmas 2023 Ā£6.45 spights
Christmas 2023 Ā£5.78 meoryou
Christmas 2023 Ā£4.71 owls (although I'll be out by then)
Christmas 2023 Ā£5.70 GoodToGo
Christmas 2023 Ā£6.25 ClydeCrusadeR
Christmas 2023 Ā£18.20 y11
Christmas 2023 Ā£5.83 KPMAN
Christmas Ā£6.00 Happyinvestor 100
Christmas 2023 Ā£5.65 Redjim
Christmas 2023 Ā£5.55 Rjb92
Hope I win
Bottle of champagne for the nearest winner :))))))
US Crude Oil Inventories
HI meoryou / spights & all
A 9.603M draw is HUGE. The estimate was for a draw of only 1.75M.
Last week's draw was 3.8M against an estimate of 0.3M so you can see the trend and we are not into peak summer demand of July/August. In addition the SPR releases end this week. Without weekly SPR releases Inventory draw swould be higher by approx 1.5MB as they are not included in draw data so in effect without the SPR release the demand and draw would have been over ....
11 MILLION BARRELS !
I expect hiccups along the way but with SPR releases ending, peak summer demand still to come, Opec cuts hitting the table in July, I wonder how many traders shorting oil will take their profits and close their positions.
This ' should' be the catalyst to move oil equities north especially when equity traders return to their desks in September.
At least I hope so.
Great evening all
Https://oilprice.com/Energy/Crude-Oil/Oil-Ticks-Up-After-EIA-Confirms-Huge-Crude-Draw.html
9.6 million barrel draw
Oil bounced up. I guess the EIA inventory report due to be published later today has possibly been leaked.
Morning meoryou.
Absolutely. All feeds in to the conundrum.
I previously head scratched to the following question, if oil demand is fine then how can the price of oil be suppressed and so volatile ?. In previous decades oil never moved as much as today. Wild daily and weekly moves were unheard of...... enter the traders
I've been reading......
There are twi markets for oil. The physical market, which is the largest commodity in the world, and the financial or paper market for oil, which is ~30X bigger than the physical market. There can be times when the physical market is healthy, as measured by inventory trajectory, yet the financial market for oil is weak, due to things like fears of a recession or regional bank failures. Given this 30:1 ratio, the "tail can wag the dog", and weakness in the paper market can temporarily overwhelm positive underlying fundamentals in the physical market, leading to price falling below what can be fundamentally explained.
If we are directionally accurate in the magnitude of inventory draws coming in the second half of this year, we believe the strength in the physical market will overwhelm the unbelievably negative sentiment in the financial market for oil.
Again, time will tell.
Have a great day
I find you can ignore most trades shown after 4.30
The Ā£37 million trade was a UT trade.. I'm gonna presume the one at Ā£123 was the same.
Add in slow drop in rig count in US Over the last 8 weeks.
71 rigs less than a year ago.
Good morning all
I've been monitoring the weekly US crude inventories. The last few weeks data shows increasing draws although the figures are skewed by SPR releases and manipulation to keep oil depressed. Adjustments are made to data once the oil price has been controlled is one such manipulation.
These releases are coming to an end this week. I believe that only 1.5m is left to be sold this week w/e 30th June as mandated by congress this completes the sale. A turnaround to replenishing the SPR commences in July.
What we should see going forward is weekly increasing draws from inventories , together with an end to SPR releases and replenishing this should bolster the price of oil as we move into H2, peak summer season and in turn oil equities.
Against this? those who seek to keep oil low for political ends will continue to attempt to manipulate and depress the price with repetative narrative of global slowdown, recession, interest rates, possible over supply under demand, weak China etc.
Oil 'should' start stabilising and then rising over the next two weeks is my uneducated guess and, if so, oil equities as well supported by a return to trading desks in September. Time will tell !!
Good luck all
Not sure selling , someone bought Ā£37 million today and pretty sure Ā£123 million purchased at 464 per share later as well.
Meoryou,
Yes, the consolation is that itās not BP related. We are in good shape to recover when confidence returns. Meantime, we just have to groan as every other day a few pence gets knocked off Sp.
T
T
There is now so much oil floating around nobody wants to pay for itās the same as Oct 2020 when bP share price was Ā£2 puts things in perspective.
HH,
I mean, of course, another new low for the last few months. I think everybody else knows what I mean.
T
Basically there is a meeting tomorrow and Friday most likely not good news thatās why oil is dropping. Most likely sales after market so it doesnāt drop the share price anymore then is all ready happening.
Hello All
Firstly thank you for all your views and thoughts on all things BP.
Maybe someone here can explain the large after hour trades taking place.
the other evening this amounted to over Ā£75 millon! (430pm-6pm)
most nights it is at least 4-15 million.
I would assume these are purchases? (assuming people trying to buy without effecting live market price?)
any comments would be appreciated.
Thanks
End of year results Iām feb share price will be Ā£4 or lower. I could explain why but you wouldnāt under stand me or you
Tinker
Itās months since there has been a real BP related reason for lower sp.
Itās mainly oil price, interest rates,recession,and US, and they are affecting all stocks.
Meanwhile the buybacks continue to hoover up relatively cheap shares.
If ( and it is if) the buybacks increase again next quarter sp may just possibly firm a bit.
And if next set of results surprises on up,with better visibility on renewables, then who knows where sp goes next( yes we all know the answer to who knows is aways y11)
Another new low.
T
I have received my Dividend as others have.
Dip is due to some profit taking.