Member Info for Harmonica

Are you so gullible to have even believed for one second that when President Trump made that claim that Iran was out of weapons, you believed him? Clearly, Iran either had reserves or has manufactured more.

Are you serious that the Saudis would attack the U.A.E.?

So who has "groomed" you?

What evidence do you have that BOTH the UK Government AnD media lie? What lies? When?

FordM,

Are you delusional?

Given a choice between the BBC and Iran, there is NO choice! The BBC is to be believed.

The BBC is reporting that a UAE oil port has been attacked by missiles and drones from Iran.

Brent crude futures hovering just under $120 per barrel as I type this.

Good news for the BP share price in the morning?

Just watched the Business News programme on the BBC News channel. The reporter was saying that previously Trump statements would move the market hugely. His latest, that the USA would accompany oil tankers out of the Strait of Hormuz in the morning, has barely moved the marker down. Clearly, the market traders have become rightly cynical and do not believe him to the same extent.

Good. Maturity at last!

Propwety1,

Here you go:

https://www.livecharts.co.uk/MarketCharts/brent.php

OANDA had it at $114 p/b on Friday close.

Yes, confirmed.

Currently at $112p/b.

The market has opened down, at a shade over $111 per barrel.

I should rather they take their time in agreeing a deal, as one agreed in haste will not likely stick.

What does the main article say or conclude about the oil industry if the closure of the Strait of Hormuz continues?

Yes, you get a Tax Credit and can offer it against the tax on UK dividends.

However, if your shares are in a SIPP and/or ISA, then you will not have any dividend tax paid to absorb the tax credit.

Put another way, you can only reclaim the WT paid to the extent that you have paid dividend tax in the UK.

The problem with BP plc moving its listing out of London to the USA is that the US witholding tax of 15% could not be reclaimed by UK shareholders, whether in or out of an ISA or SIPP.

Invwell,

Sorry, but that is not a Limerick! The first, second and fifth lines should rhyme, and do. But the third and fourth do not rhyme with each other, alas.

If I had spare cash, I should be tempted to top up with more BP shares as I am not very confident that any Iranian peace proposals will get anywhere, frankly.

What has the U.A.E. Government been told?

Supersets,

Not sure how you figure that BP was previously over valued.

Superspecs,

Simple supply and demand! Share investors are not yet convinced that the Brent futures price will translate into sufficient long-term profitability to kerit chasing the price up.

Put another way, either the futures price has to rise way further in the shoet term, or has to stay elevated for a protracted period of time.

$116.9 per barrel!

I checked and saw the Brent crude futures up to $115! Tyen I was shicked that the BP share price was in the red!!

I suppose another way to look at it is that the BP price would be way worse were it not for the sharp rise in the futures price of Brent!

I expect the BP price to close higher. Fingers are crossed.