Member Info for Harmonica

Caitlin, Like the IDF has not destroyed hospitals in Gaza, claiming Hamas was hiding there?

Thanks, Spights, for posting that link to live Brent crude prices! I can never find the prices independently!

About $78 per barrel currently.

Seems like simple profit taking!

Revenue is vanity, profitability is sanity.

There are several here who, very understandably, complain when the price of BP shares falls despite good news elsewhere, such as the market generally up.

Where are they today? The last time that I checked, the FTSE 100 was down and BP was up! 8-))

"Israel must not be fooled by ceasefire proposals

The only option is a regime change."

Agreed, but how is Netanyahu to be removed? He is unwilling to go as he faces corruption charges...

There is no shortage of supply, Cricketer, it seems, so a price of 394p seems a bit too high...unless things escalate in the Middle East...

1863

You can forgot about BP exporting as it is an international oil trader.

As crude oil is proced in US Dollars, were it to weaken, then BP would lose out if converting the receipts into UK Sterling.

A strong US Dollar helps the big oil traders.

No guarantee, SUFC Essex, that the oil tanker will reach a safe port!

SS17,

Iran attacking the Suez??? Do you kno2pw where it is relative to Iran?

Did you mean the Strait of Hormuz?

I definitely agree with you that there does seem to be strong support for Israel from the US President, but even he baulked at the idea of the IDF taking out Ayatollah Khameini.

As for the UK, it's stance is more nuanced and neutral.

Jw330,

Perhaps Israel does, but using it would be political suicide. How many countries that now call Israel an ally would continue to do so?

I cannot see the price hitting $120, let alone higher.

$90 at the worst over this crisis.

A 6% rise in crude oil prices should result in a rise of almost as much for the BP share price...

Had a look at 01:29 and Brent crude is at $73 per barrel.

Sky News reporting at 01:19 that the Israeli air force has started bombing Iran. News reaching Sky from Reuters.

Explosions heard in Iran.

Alarms sounding in Jerusalem and elsewhere at 3am.

Will the oil price and gold rise?

Saitoman,

The initial offer would be at 100p more than the current market price. Once the BoD reject the bid, the next offer would have to be higher. If there is more than one bidder, then the final price could be anything!

A share price based on the rumour of a takeover, could evaporate fast. However, based on actual bid, there woukd be plenty of time to consider taking it.

1. Armani,

I am NOT predicting a rights issue...far from it! But if the debt pile is paid down, it will need cash and a lot of it. Where will that cash come from? Cutting the dividend, a rights issue, cutting back on buybacks or not making new investments? Having cash in reserve and a debt pile is one way to forestall all if those problems!

Invstrat, if BP started to pay down debt, it would be a message to the market that it could not find projects that pay a better return.

The other is a practical issue. Once debt is paid down there is no guarantee that it could raise future debt at a later date. Another issue is that not all debt can be repaid when the company wants, as fixed.

Optimus, why should BP divert cash away from new investments, dividends and buybacks and pay down debt?

Or are you looking for BP to have a massive rights issue of new shares, so to reduce debt? If the BoD thought that debt repayment was onerous, it would have pared the debt down already.