BP Oil Stock and Market Prices – Part 3

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Posted by Tamar | Posted in BP oil stock, Uncategorized, World markets, binary options trading, currencies, oil | Posted on 20-06-2010

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Oil Prices

Among the different developments likely to influence oil prices for both the short and long-term future are:

  • Obama’s decision to delay drilling near Alaska until 2011
  • Increasing general restrictions on rigs and platforms in US territories
  • Regulations causing fewer jobs than expected for the future
  • Increased demand for oil during the summer months
  • Chinese gasoline demand is weak in light of increased sales for vehicles in 2010

    When crisis like these happen in the markets, it can be a good time to invest in binary options.
    Oil prices this past week rose in light of the public’s sentiment that the world economy is recovering. Crude oil rose to $78 dollars a barrel, in spite of a greater than expected supply of US crude stockpiles, according to the US Energy Information Administration. Oil prices are expected to rise further as the summer progresses and demand for oil increases.

    BP Stock Prices

    BP stock has risen more than 9% as budgeting of $20 billion has been set aside for a clean-up policy. BP insists that they will find companies who carry responsibility for the disaster and have them pay their due. BP seems to have enough money to carry the financial burden of cleanup, according to most sources. In addition to the cleanup costs, Obama has said he will demand that an additional fund be set up to compensate those affected by the oil spill.

    Today’s announcement that day-to-day operation will be handled by managing director Robert Dudley, who is experienced in handling sensitive assignments for BP in Russia and Africa could also affect stock prices.

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    BP Oil Spill and Market Prices – Part 1

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    Posted by Tamar | Posted in BP oil stock, binary options trading, oil, stock spotlight, trade strategies | Posted on 13-06-2010

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    Oil from a BP underwater oil rig has been gushing into the Gulf after an explosion and fire April 22. After many failed attempts at controlling the leak, BP finally managed to contain the oil by placing a cap on the well and direct oil out of the water into the surface for use. Oil however, continues to leak into the Louisiana coast and the Florida Gulf.

    Past estimates of oil leaks of 12,000 to 19,000 barrels a day (504,000 to 798,000) have now been raised to 20,000 to 40,000 barrels a day (840,000 to 1,680,000 gallons) before the leak was contained by BP.
    The London-based oil company has broken the record for the worst oil spill in US history. Oil from an Exxon Valdez tanker off the coast of Alaska’s Prince William Sound spilled over 10 million gallons into the ocean. This was previously the worst oil spill in US history.

    Oil spill cleanup has cost BP thus far $1.4 billion on cleanup.

    Investment analysts recommend buying BP stock, using an old investment strategy of buying cheap stock during a crisis, waiting out the storm and selling when the price goes up. Stock prices have dropped to almost half of what they were before the oil spill, although intraday trading prices fluctuate enough for the binary options trader to predict the hourly movement of the stock.

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