Member Info for meoryou

Just been looking at 1 month and 3 month graph of share price.

Already you need to know where to look to be able to see when Looney left.

It must be a little embarrassing how little he has been missed.

A year from now it will be impossible to find that date on a share price graph.

This is a follow on from the post I did yesterday.

Low Cushing stock used to mean something, so it gets me thinking.

But maybe all it really means this time is US is exporting every drop of oil it can.

Think it’s why spread between WTI and Brent has dropped

Any thoughts ?

Https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Climb-As-Cushing-Oil-Stocks-Near-Historic-Lows.html

Gingy

I’m only guessing same as everyone else

It’s all about trying to make sense of things.

There are probably about a dozen posters on here who I always have a think about what they are saying,as they make me think( or sometimes understand better).and many more who are very useful

I’m still learning after more than 40 years in BP.

The knowledge base on this board is very very good

Gingy

I think what is happening in the background is that the oil price looks like it’s building a new floor.

As the foundation gets broader, the result should really be a new floor for BP sp, and the start of a new rise in sp.

I think we are in that phase just now , which hopefully starts a new break out upwards in sp.

It’s not the first time it’s looked like this, but this time the oil price does look solid.

The 3 rd quarter just about to finish looks good, And my expectations for 4 th quarter are even better.

I’ve said it often, with these kind of earnings sp historically would be £6 or more.

If the market’s seriously thought there was a chance of a take over,I personally believe sp would be at least £6.

So if there is anything ongoing it’s been kept amazingly well secret.

M view is less than a 10% chance.

So probably a bid incoming by the end of the week.

A year after an Exxon Mobil Corp.-SABIC joint venture started up a $10 billion petrochemical complex in South Texas, BP is building a solar farm to supply renewable electricity to the facility.

The rest is behind a paywall,

But it kind of tickled me, since we hear so much that Exxon are still a traditional Oil Company

Https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Rise-As-Crude-Oil-Inventories-Build-Products-Fall.html

Https://oilprice.com/Energy/Crude-Oil/Decade-Low-Stocks-At-Cushing-May-Send-Oil-Prices-Even-Higher.html

Https://oilprice.com/Latest-Energy-News/World-News/Energy-Transfer-LP-Shuts-Ruptured-Oil-Pipeline-In-Permian.html

Https://www.grocerygazette.co.uk/2023/09/25/bp-claire-farrant/

Https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-announces-deal-with-investment-company-harmony-energy-income-trust-for-physical-power-trading-and-optimization.html

Https://oilprice.com/Energy/Crude-Oil/Energy-Fund-Manager-Predicts-Major-Upside-For-Oil-Equities.html

Theaky

I’m not sure where I have gone wrong.

Is it buying At £2-£3 and selling at £4.80-£5.70 that’s been my mistake???

Charlie

As a LTH I felt it was a marvellous buying opportunity.

By coincidence funds and buying opportunity actually aligned.

We all wish we had bought more at £2.

Https://oilprice.com/Latest-Energy-News/World-News/The-Spread-Between-Brent-And-WTI-Has-Aligned-With-Transatlantic-Freight-Costs.html

WP

Just a thought but don’t you have to keep a few shares for the BP share match scheme, or is current share scheme different from my day.

Spights

It’s been something I have thought about, just never got round to.

Over the last couple of years have been simplifying my finances.

Now looking at getting all the highest yield shares in ISA, and cutting the div tax bill,since the allowance has been savaged, so maybe when we reach £6 something the time will be right for some premium bonds.

WP

If sp hits £6 ,that’s close to a 20% rise from here.

At that point I would probably take at least 20% of my BP shares out, to reduce exposure to oil price a bit.( will definitely keep the rest for now( tax man))

However, it’s always a case of what you do with the money then.

It depends on the prices of what you want to buy.

My worst diversification was to take cash out of BP years ago, and invest in Bt, which I had held prev.

Timing just week before Bt Italian accounting scandal £3 share within 6 months had lost 50%.

Happy

I think you should be the oil company shareholder popping up on all the tv channels at results day.

To educate the un learned ( especially politicians and the media), about the real position historically of oil price div and yields.

I think I would actually pay to see you demolish many of their arguments.

Not sure you should be left in the “Green Room” prior to interview with any Environmentalists however.

IMHO