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BP is investing in the Middle East where oil can be extracted at $35, the end of fracking is good for oil prices. I think fracking will be muted but it won't go away, energy independence is paramount for the US government. Democrat Senate means also big spending in infrastructure and you need Energy for that.
Looks like the Senate could/will become majority Democrat, creating fear around corporate tax increase that could hurt Growth stock, Apple down 3.5% on the premarket already, this is good for stock rotation, the market will look at buying value / cyclical stocks. GLA
Paddy, last record is break even is 56 USD in 2019 with a target at 35USD for next year. https://www.google.com/amp/s/oilprice.com/Energy/Energy-General/Oil-Major-BP-Looks-To-Break-Even-At-35-Per-Barrel.amp.html
Oil Majors sell their oil 6/9/12 months in advance, they also offer special discounts. I don't think we will see major impact to the bottom line with oil at 50 this quarter, in fact this could a very bad quarter as the lack of volatility will kill the profit margin of their trading arm, look at the latest statement and impairment from Shell. Warm winter is also hurting the LNG business. I think we are now in a trading range (240/280) until March. The breakeven price for BP is still 45 USD/barrel , unless I have missed something. 35 is still a long way.
Mrlolol - Not before reducing the debt , we are looking at Q3/Q4 next year before share buy buy kicks in.
https://www.google.com/amp/s/uk.mobile.reuters.com/article/amp/idUSKBN27C1CD
Rockonuk01 - I think it is for new positions from January 5th/6th ?, I am not being forced to close my CFD position. Alternative would be to buy the real deal from an exchange. I have personally a bank account in a European country allowing me to trade from there. Like Tacet said it still wise to take partial profit anyway. Said that the Dollar is still going down...
Thanks, Tacet, I appreciate the advice, I have my sell order at 29500, with a buy at 30500 if it gets breached. This did well for me at 205000, looks it could happen tonight. BTC is like watching a rocket taking off with all the stages seperating one by one... :) it is crazy. My USD/Euro trade is doing well, but I amm watching the us index closely, but more US stimulus is on the cards, still bullish on the euro (2.5 years high). GL.
Still think it is going up, bought back at 2.52 with my speculative funds as per Geng's chart , waiting for 2.75/.2.80 to offload, I keep the profit in shares to average down my main holding. I think a lot of traders are closing their books with end of year approaching , hopefully stock rotation will accelerate in January. Hold tight.
Read this Russians want to keep the price bellow 55 for the foreseeable future so US fracking does not reboot. It is all about market share. Good for the long term, but mid short term pain ahead.
https://www.worldoil.com/news/2020/12/25/russia-plans-to-back-another-opecplus-production-hike-in-february
Numnut, I use CFDs on Capital.com for crypto without margin, I personnaly don't trust crypto wallets, too many Russian hackers. Check videos and trade ideas from David Jones on you tube as an introduction to the platform. I made 65% by following his trades this year, you can start small. Good luck.