$57.62
-1.02 (-1.74%)
BP plc (ADR) (BP)
CAPS Rating:
An oil company, whose activities include oil and natural gas exploration, oil supply and trading as well as refining and marketing, manufacturing, marketing and distribution of petrochemicals and marketing and trading of natural gas.
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Fool UK
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Oil is too low not to head back north. Instability in stocks means people will start migrating to tangibles. I'm thinking that as inflation creeps (especially with all the money the US is pumping into the system) companies are going to try to lock in low prices in the futures market. My opinion is because over $100.00 barrels of oil is still fresh in everyone's memory, if there is even a little fluctuation upwards in the oil price, we're going to see a steady buy up to a more reasonable oil price, which obviously is going to positively impact the bottom line of companies like this.