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@notgotaclue that post could have been written by me and we have almost the same amount invested. I’m looking to see all to use for other purposes so I’m also stuck as to when to sell. Will there be a breakthrough back to £3.50 and when will that happen…it’s a roller coaster at the moment.

@cong agreed. Nice to see it not fall back under £3 on the close as it normally has when it’s breached £3..fingers crossed this is the foot up to £3.10+

If we can crack £3.00 or should I say £3.02 then that should give us the springboard to £3.10

https://oilprice.com/Energy/Oil-Prices/Oil-Could-Be-Primed-For-Up-To-50-Rally-Strategist-Says.html

Let’s hope so

Can she stay above the magical £3 mark?!

Does anyone know why their daily buybacks are stuck around 5mil shares? Surely you would buy more when the market is in this dip? What am I missing?

I totally hear what you are saying but find it hard to compare the Royal Mail with BP. This is going to be a rollercoaster for sure but the fundamentals for BP have not changed greatly since pre pandemic times. We don’t know how their long term strategy will turn out and how it will affect the SP…but..the core business will pick up once the COVID thing settles and economies start to get back to normal. That alone must (IMO) get them back into the £3.50 plus range and even the SP stays depressed because of the Green strategy £4 must surely be a realistic SP for 2022? Thoughts

I try to ignore the chaos in the markets at the moment but what I struggle with is how Bp gets hammered more when the markets dip and recovers slower when they improve. How can they be at present 4% down when every other major is in the 2% bracket… aghhh

Buybacks do help the SP. because at this time they are helping to stop or stabilise the downward trend and they are shares no longer in circulation so of course they help us all.
It may no seem like it due to market sentiment pulling us back but when positivity hits the markets and in particular this sector, then we will have x amount less shares up for offer!

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@soul - nope

You often see a pick up of shares and price after divi too, so the drop isn’t that big. We also have share buybacks…I’m no expert but surely if you are BP then you buy back your own shares when they are at their cheapest?!

I think it is a lot simpler than that..oil prices down by 4% because of the rise in the delta variant. That means a slower recovery which also means less profits for the oilies. Once a solid global recovery takes place then a steady rise should take place with BP..IMHO

Oil down a whopping 4% could be a slow week..staying above £3 would be good for the week

Clearly not, oil down to $69

Good job numbers and I got this lol

If the correction is in tech stocks then couldn’t more defensive stocks attract investment?!

It’s bouncing up and down along with the other majors primarily down to the oil price…

I’ll take anything right now - https://www.fool.co.uk/investing/2021/08/02/whats-next-for-the-bp-share-price/