BP (BP) closed the most recent trading day at $40.21, moving -1.18% from the previous trading session.
The Strait of Hormuz, where the BP-operated oil tanker was "harassed," is touted as the most important global passageway for transporting crude.
Oil prices strongly rebounded from a bear territory hit in early June, with U.S. crude comfortably trading above $60.
As Tropical Storm Barry is threatening GoM output, almost 950,000 BPD of production can go offline.
In the latest trading session, BP (BP) closed at $41.22, marking a +0.66% move from the previous day.
Limited financial flexibility and a weak oil pricing scenario act as headwinds for BP stock.
BP (BP) closed at $41.36 in the latest trading session, marking a -1.19% move from the prior day.
InvestorsObserver issues critical PriceWatch Alerts for AAPL, AMRN, BP, CSCO, and MS.
Here are 5 stocks added to the Zacks Rank #5 (Strong Sell) List today.
Marathon Oil's (MRO) strategic portfolio in key resource-shale plays like Bakken, Eagle Ford, Permian and STACK/SCOOP signals visible production growth in the upcoming years.
In a meeting on Monday, July 1, OPEC agreed to extend current oil production cuts into the first quarter of 2020. The price of WTI crude is $58.65 per barrel currently, up from $42.53 in December.
The future movement of crude price is heavily dependent on Trump and Jinping's G-20 meet, determining the commodity???s demand. Meanwhile, OPEC's Vienna meet will give shape to the supply side.
BP (BP) closed the most recent trading day at $41.86, moving -0.76% from the previous trading session.
As the fate of crude exploration and production companies is positively correlated with the commodity price, the recent oil rally therefore perks up the crude weighted-stocks.
Norway's $1 trillion sovereign wealth fund maintained that the decision was prompted by financial considerations and is not an ethical drive.
The S&P 500 hit a new record-high on Thursday as investors??? appetite for risky assets like equities were bolstered by the Fed???s indication that a rate cut was likely this year.
BP (BP) closed the most recent trading day at $41.61, moving +1.39% from the previous trading session.
Chevron's (CVX) complex refineries are expected to rake in profits once the IMO 2020 regulation takes effect.
U.S. stocks rallied for the second successive days on expectations that the Fed will reduce benchmark interest rate within next 2-3 months.
ExxonMobil (XOM) expects the redevelopment deal with Angola to optimize recovery and increase output from mature fields.