EPS Q222 Jul 2018 01:14
Earnings due on July31st
I found some analytical comments about the SP of BP.
BP stock, markets, and oil prices in the past one month
In the past month, BP stock has fallen 1.1%, and Brent has fallen 2.2%. BP has mostly trended in line with Brent in the past month. Brent has been quite volatile in the stated period. Brent fell between June 15 and June 21, rose from June 21 to July 10, and has fallen again since then. BP stock has also followed a similar pattern.
From June 15 to June 21, oil prices fell in anticipation of the rise in global oil supply by OPEC in a meeting scheduled on June 22. However, between June 21 to July 10, oil prices recovered due to a lower-than-expected rise in global oil output by OPEC. Plus, mounting trade tension between the US and China further supported oil prices. Plus, the risks of global supply disruptions from Iran and Libya boosted prices. Nevertheless, since July 10, oil prices have declined as Libya hinted at the resumption of exports at its Eastern ports. Plus, recent media reports stated that the US and Russia could cooperate to reduce volatility in oil markets.
However, SPY prices have risen in the past one month. SPY remained weak from June 15 to June 27 but has recovered since then. Overall, SPY has risen 0.8% since June 15.