RE: Update18 May 2026 08:27
For sure, for BP sp there is only one direction, the test will be at 570/580 if we are going to break descending resistance trend
but technically it looks a nice bull flag.
The fundamentals are unelidable, projecting last quarter results BP has PE of 6, with its average trailing PE in the last 10 years at 20.
Moreover last quarter, high oil price contribution came only from March, Q2 results will be mind-blowing and for the whole 2026
PE will be even lower than 6....BP need a re-rate.
Maybe I am missing something here but even compared to other oil majors BP right now looks so undervalued, why?
On the geopolitics, Iran claims IT DID NOT STRIKED NUCLEAR POWER PLANTS WITH DRONES, and I believe them.
Don't forget that USA in in partnership in this war with Israel, and this kind of actions is very much Israel style.
The real terrorist in this conflict is the USA and Israel, and if one look closely there are so many reasons
for both countries to keep this conflict in the middle-east ongoing and to create divisions in that part of the world.
If you keep watching the BBC, they will never even hint at this eventualities, they are too busy kissing the master paycheque arses
and will never bite the hands that feed them........in any case its a media too politicized. Beside most od BBC news these days are about
frivolities, celebrities and time wasting. Anyhow if you think about it, the gulf states are direct competitors for oil/gas export to the USA.
With the escalation of the Ukraine war, the market got flooded by sanctioned oil/gas at a fraction of what was the market price, from several countries including Venezuela.
Oil from the Gulf is much cheaper to produce and therefore the USA find itself having to commit acts of piracy and sabotage to force consumer countries to buy their energy. How to you thing blow up the north stream pipeline from Russia to Germany, at the begin of the Ucraine war? They say you'll be judged be what you do not what you say, Well every single action from the USA in geopolitics, has been to create tensions, steal and increase the price of oil/gas.
US producers fracking producers have a breakeven pint at 70/80 $ per barrel, which is ever increasing with the enormous amount of debt those operators have, compared to other worldwide producers.
It may be a total conspiracy theory from me, I am not afraid to speak my mind and be wrong.....
But as I said judging from the actions, not what the media feed us, this is what I see,
higher oil price for the foreseeable future to please the US energy producers, and forever Israel
land grabbing. Any other reasons like the nuclear treat from Iran are what they are trying to make you believe.
Think about it! The USA knows where the Iranian enriched uranium is, buried metres below, they know the exact place.
They can always bomb that place from time to time, to make sure Iran will never get it right?
So why pace negotiation are not happening?
I rest my case. lol