BP plc (LON: BP) becomes attractive investment once again, following a string of failed trades and numerous scandals. BP plc (LON: BP) shares are rising to 393.65 points, gained +5.30 (1.36%) at the very beginning.
According to recent Citigroup, BHP Billiton, the largest oil and gas company Australia would spend $ 20 billion to buy assets in the Gulf of Mexico, including a draft of BP, which may be offered for sale in connection with the largest in U.S. history, oil spills.
Dow Jones Industrial Average exceeded the level of 10000 points. Growth of Dow Jones up +106.49 points (1.07%) and stood at 10,046.47 points in. Stock trades in the United States, signaled the beginning of the bearish trend in international stock exchanges. The main background for the growth of Dow Jones and other indices:
Oil prices are subject to a mixed trend. Quotes of the oil market in the following trades were closed with an increase in the price on the background of positive economic news and data. On the New York Stock Exchange New York Mercantile Exchange price of July futures for petroleum of mark Light Sweet rose by 1.75, or 2.4%, and its price was 74.61 dollars per barrel.
Gold prices may reach 1250 dollars by the end of the week. Oil prices are dropping every day. Quotes of the oil market on Friday, May 21 closed with a decrease in price amid fears about oversupply of oil in the U.S. and the possibility of slower economic growth in Europe. On the New York Stock Exchange New York Mercantile Exchange price of July futures for petroleum of mark Light Sweet fell by 0.76, or 1.1%, and its price was 70.04 dollars per barrel.
Strong dollar saves OPEC from large losses in exports of oil, putting into question the willingness of OPEC to defend a certain price. This month, oil futures have fallen in price on American sites by 26%. 18-month intraday maximum of $ 87.15 per barrel on Thursday replaced a minimum of $ 64.24 per barrel. This is the lowest point since July 30. On Thursday, crude oil price set at $ 68.01 a barrel on the background of large stocks of raw materials, problems in Europe and the stock market crash.
The dynamics of oil production in late March / early April turned out to be somewhat more positive than we expected, but by the weakening of the euphoria about the global economy and restore investor attention shifts to the problems of the euro area optimism in the market significantly reduced. In these circumstances, investors have been paying more attention, and other fundamental factors, particularly in light of DOE reports in recent weeks again increased concern about the fact that the recovery in demand is unlikely to be strong enough to support sustained considerable adjustment reserves.