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Probably because of breaking news on Sky that the "Iranian team will not participate in this'.

Was $100per barrel a little while ago, but now at $99.

Fleccy,

I suppose that, in a way, the market DOES know the outcome of the conflict! At some point, we shall return to the position we were in before all this kicked off. The question is when?

Perhaps what we need for the futures market to align closer to the actual state of play is for Europe to start feeling the effects of the crisis more, for example, by rationing petrol, cutting the number of flights, mandatory four-day weeks etc. So far, the effect has been minimal bar price rises.

Two friends of mine have seen their DC pension pots fall heavily duento the Iranian conflict.

KenJ,

Despite its name, the Strait of Hormuz is anything but "Straight"! It is more curvilinear than anything!

The same reason that the USA, Russia or others have them...asnthe ultimate weapon to deter attacksnon them..The Ukraine had nuclear weapons and, stupidly, gave them up when promised defence by others.

Around $97.98 p/b.

Anybody recall what it was at Friday close?

Surprised that it is not higher as things are going from bad to worse,

According to a Donald J. Trump Truth Social post, the US Spruance launched a missle at the Iranian cargo ship in the Gulf of Oman, blasting a hole in the engine room.

"Closing again"???

When was it opened?

If you have to query it...then I suspect a humour by-pass.

Fleccy,

I hope so!

It would teach them a lesson...a very, very, very expensive one.

Betterlife20,

"put them behind the bar"! Could they pull pints?

MT100,

Fingers crossed!

Gingy,

Yes, very wishful thinking!

This looks like it has further down to go before it gets 'better'.

Jamtart1,

Water, like all liquids, is level when at rest.

I know that you meant it in another sense. You do know what humour is?

Fleccy,

Looks like you were smart with your timely disposal!

Should futures go to over $100 p/b at the opening tonight, I can see the BP share price recovering at least 20p of its 43p drop on Friday.

The question is, will futures go up so much? I fear not, as the futures traders have seemed to latch onto any news that might suggest a cessation, and downplay the actuality of the situation. For example, the futures price fell when Iran said that it had lifted the closure of the Strait of Hormuz, but ignored the realiity that it was still closed due to the US! Nothing remotely had changed!! Snce then, shipping has been fired upon...and we are in a ceasefire situation...supposedly!!

Frankly, the extreme differences in prices between the physical/spot market and the futures prices shows to je a disconnect from reality by futures traders.

I expect (and hope!) BP to resume an upward road to 600p plus.

Jamtart1,

By the law of physics, the Strait of Hormuz is indeed level!

Spights,

"Ever" is a very long time! Another Gulf of Mexico disaster would knock a quid off the share price or even a lot more.

Orelij,

Iran declaring that the Strait of Hormuz is open does not make it so if the USA keeps it closed!

So what has really changed?

Fleccy,

Considering buying back now BP has fallen?