Roundtable Discussion; The Future of Mineral Sands. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 510.40
Bid: 509.40
Ask: 509.50
Change: -5.40 (-1.05%)
Spread: 0.10 (0.02%)
Open: 516.30
High: 516.60
Low: 506.10
Prev. Close: 515.80
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Sector movers: Oil stocks tank as crude prices drop to three-year low

Tue, 04th Nov 2014 13:26

Sinking crude prices were pressuring oil producers and oil services stocks lower on Tuesday, with West Texas Intermediate (WTI) dropping to a three-year low.Oil dropped sharply after the world's largest exporter, Saudi Arabia, lowered prices for crude exports to US customers in an attempt to support its market share.Worries about a global supply glut amid falling demand have also been pressuring "black gold" lower in recent weeks.Meanwhile, US government data due out on Wednesday is expected to show that stockpiles in the States rose by 1.9m barrels last week.WTI crude futures were down 2.4% at $76.91 a barrel (bbl) in afternoon trade, having touched a low of $75.84/bbl earlier on. Brent was 2.3% lower at $82.83/bbl."The slide in the Brent oil price to $85/bbl has exacerbated the substantial underperformance of the UK-listed exploration and production (E&P) sector relative to the market in recent weeks," said broker Westhouse.Oil and gas stocks listed on the FTSE 350 were down around 2.2% on Tuesday and have now fallen nearly 13% over the past three months. This compares with the wider FTSE 350 which has dropped just 2.4% during the same period.FTSE 100 producers Tullow Oil, Shell, BG Group and BP were all registering losses of at least 2%, while smaller peers Ophir Energy, Premier Oil and Afren dropped at least 5% on the FTSE 250.Oil services stocks such as Petrofac, Hunting and Wood Group also declined.Nevertheless, in a research report on Tuesday analysts at Barclays said that depressed oil prices are not wholly to blame for the weakness in the E&P share prices as of late, and called for companies to rebuild investor confidence."We believe the sector's downturn mainly reflects investors' frustrations with excessive spending and poor expectation management, eroding their enthusiasm for the growth potential that remains," Barclays said.Top performing sectors so far todayFood Producers & Processors 7,379.41 +2.12%Tobacco 40,800.95 +1.99%Forestry & Paper 11,460.73 +1.92%General Industrials 3,837.95 +0.82%Life Insurance 7,349.13 +0.78%Bottom performing sectors so far todayOil Equipment, Services & Distribution 20,485.64 -3.71%Oil & Gas Producers 7,435.50 -2.20%Industrial Engineering 9,230.48 -1.11%Software & Computer Services 1,118.62 -0.87%Construction & Materials 3,653.85 -0.78%
More News
9 Apr 2024 07:24

BP sees higher Q1 upstream production

(Sharecast News) - Oil giant BP said it expected first-quarter upstream production to be higher than the previous three months.

Read more
5 Apr 2024 12:00

LONDON MARKET MIDDAY: Stocks drop on Israel-Iran tensions and Fed talk

(Alliance News) - Stock prices in London were firmly down at midday on Friday, as rising tensions between Israel and Iran alongside doubts around the timing of US interest rate cuts hurt investor sentiment.

Read more
5 Apr 2024 08:47

LONDON MARKET OPEN: Europe slumps on US rate worry and rising tensions

(Alliance News) - Stocks in Europe had a downbeat start to the day on Friday, with investors unnerved by rising geopolitical tensions and hawkish remarks from US central bankers.

Read more
4 Apr 2024 16:55

LONDON MARKET CLOSE: US initial jobless claims hotter than expected

(Alliance News) - Stock prices in London closed up on Thursday, as investors first digested words from US Federal Reserve Chair Jerome Powell overnight, before reacting to hotter-than-expected US initial jobless claims.

Read more
4 Apr 2024 11:58

LONDON MARKET MIDDAY: Stocks up as Fed chair calms some rate nerves

(Alliance News) - Stock prices in London were in the green on Thursday afternoon, with mining stocks powering the FTSE 100 higher, as investors digested words from Federal Reserve Chair Jerome Powell.

Read more
2 Apr 2024 23:07

Sector movers: Builders and REITS slip, geopolitics boost Big Oil and gold miners

(Sharecast News) - Personal Goods was at the bottom of the pile on the FTSE 350 at the start of the second quarter, as fashion retailer Burberry Group's shares fell back towards their five-year lows.

Read more
2 Apr 2024 16:57

LONDON MARKET CLOSE: Europe down after Easter holiday weekend

(Alliance News) - The FTSE 100 took a hit on Tuesday, after a boost from London's miners and oil firms were not enough to lift the index.

Read more
2 Apr 2024 15:22

London close: Stocks turn red on return from Easter break

(Sharecast News) - UK stocks experienced a downturn by the end of trading on Tuesday, as investors resumed activity following the extended weekend, with initial gains reversed by the close ahead of a week marked by a number of key economic data releases.

Read more
2 Apr 2024 11:00

Biden administration approves eighth US offshore wind project

WASHINGTON, April 2 (Reuters) - The U.S. Interior Department on Tuesday approved the country's eighth commercial-scale offshore wind project, which will be built off the coast of Massachusetts, bringing online electricity to power more than 900,000 homes.

Read more
2 Apr 2024 09:09

LONDON MARKET OPEN: FTSE 100 up as oil majors and gold miners shine

(Alliance News) - Stock prices in London opened higher on Tuesday, in confident trade following the long Easter weekend, ahead of a UK manufacturing sector reading later in the morning.

Read more
2 Apr 2024 08:55

European oil stocks gain on expectations for higher demand, supply concerns

Read more
28 Mar 2024 10:00

How the oil industry is thriving despite Joe Biden's climate policies

GRAPHIC on Biden's oil boom: https://www.reuters.com/graphics/USA-BIDEN/OIL/lgpdngrgkpo/

By Nichola Groom, Jarrett Renshaw

Read more
27 Mar 2024 20:59

New England offshore wind auction draws multiple bidders

March 27 (Reuters) -

Read more
27 Mar 2024 12:47

Ithaca Energy gets bid rights on Eni's UK assets, profit slips

March 27 (Reuters) - Ithaca Energy has been given a four-week exclusivity period by Italy's Eni, to make an offer for UK exploration and production assets that could expand its output massively, the London-listed company said on Wednesday.

Read more
27 Mar 2024 09:01

Big Oil's climate planning not good enough, investor group says

Climate Action 100+ assessed 10 top oil companies

*

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.