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Share Price Information for BP (BP.)

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Share Price: 482.65
Bid: 482.65
Ask: 482.80
Change: -7.65 (-1.56%)
Spread: 0.15 (0.031%)
Open: 489.40
High: 491.45
Low: 482.00
Prev. Close: 490.30
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U.S. Gulf Coast energy complex braces for another storm strike

Wed, 28th Oct 2020 17:09

By Erwin Seba

HOUSTON, Oct 28 (Reuters) - Energy firms shut nearly half
the offshore U.S. Gulf of Mexico oil production, turned off
undersea pipelines and evacuated workers as Hurricane Zeta
steamed on Wednesday toward the oil and refining complex along
the U.S. Gulf Coast.

Zeta accelerated and intensified early Wednesday and was
forecast to crash into Louisiana later in the day as a
"significant hurricane" with winds of up to 90 miles per hour
(150 kph), the U.S. National Hurricane Service said.

Energy producers had shut about half the offshore region's
oil and natural gas output, or 914,811 barrels of oil and 1.5
billion cubic feet of gas, the U.S. offshore energy regulator
said.

BP Plc, Chevron Corp, Royal Dutch Shell Plc
and Murphy Oil Corp were among the major oil
producers that had evacuated workers from 157 offshore
facilities. Occidental Petroleum Corp, the third-largest
offshore Gulf of Mexico producer, said it was implementing storm
procedures.

Ports along the Mississippi River from Baton Rouge,
Louisiana, to the Gulf of Mexico, and from Gulfport,
Mississippi, east to Pensacola, Florida, were closed by the U.S.
Coast Guard to vessel traffic.

Repeated storm shutdowns this year have been costly for oil
and gas producers and processors. Some were pulling staff for at
least the sixth time since June and having to exit under
COVID-19 pandemic precautions.

Zeta is the 11th named storm of the year to make a U.S.
landfall and will be the seventh named storm this year to affect
energy producers along the Gulf Coast.

The loss of millions of barrels of oil production lost from
the storms have not impacted markets. U.S. oil futures
were off 5% on Wednesday as energy demand has been crushed by
the pandemic and crude oil supplies in storage risen.

Gulf Coast refiners, which had not already halted
operations, were planning to run through the storm, people
familiar with plant operations said. An onshore gas processing
plant removed its workers on Tuesday, and two Louisiana
oil-processing facilities have been idled since storms earlier
this year.

(Reporting by Erwin Seba; writing by Gary McWilliams
Editing by Marguerita Choy)

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19 Dec 2023 20:11

Norwegian Johan Sverdrup crude prices soar on Red Sea shipping issues

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19 Dec 2023 19:10

US launches Red Sea force as ships reroute to avoid attacks

Crisis is spillover from Israel-Hamas war

*

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19 Dec 2023 17:14

Shippers mask positions, weigh options amid Red Sea attacks

Dec 19 (Reuters) - A number of container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.

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19 Dec 2023 17:01

LONDON MARKET CLOSE: Stocks close higher ahead of UK inflation data

(Alliance News) - Stock prices in Europe closed higher on Tuesday, after data confirmed that the eurozone is inching closer towards its 2% inflation targets.

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19 Dec 2023 15:02

London close: Stocks manage gains amid holiday slowdown

(Sharecast News) - London's financial markets showed resilience on Tuesday, maintaining positive momentum despite the usual holiday slowdown.

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19 Dec 2023 13:18

UK warns of deteriorating security in Red Sea, Royal Navy ship joins taskforce

LONDON, Dec 19 (Reuters) - Britain warned that the security situation in the Red Sea was deteriorating and ballistic missile and drone attacks were an increased threat, as it agreed for a Royal Navy Destroyer to join a U.S.-led operation to safeguard commerce in the region.

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19 Dec 2023 11:49

LONDON MARKET MIDDAY: FTSE 100 flat; Eurozone inflation cools to 2.4%

(Alliance News) - Stock prices in London were mixed at midday Tuesday, despite news that the eurozone's inflation is edging closer to its 2% target.

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19 Dec 2023 08:47

LONDON MARKET OPEN: Stocks rise as investors pin hopes on US rate cuts

(Alliance News) - Stock prices in London opened higher on Tuesday, with sentiment still buoyed by expectations of rate cuts in the US.

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18 Dec 2023 18:18

Red Sea attacks force rerouting of vessels, disrupting supply chains

Houthis launched series of attacks, latest on Monday

*

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18 Dec 2023 17:40

Europe Gasoline/Naphtha-Margins slip as Red Sea attacks push oil higher

LONDON, Dec 18 (Reuters) - Northwest European gasoline refining slipped by about $1 to $8.6 a barrel as underlying crude prices rose 3% on mounting attacks on ships in the Red Sea.

Trades   Bids     Offers   Prev.    Sellers  Buyers
(vol.) Trades
Ebob $727.50
Barges
MOC
Platts E5
(fob ARA)
<EUROBOB-
ARA>
Ebob $728
Barges
E10
Platts(fo
b ARA)
Ebob $735.50 Varo, Trafigu
Barges (4KT) Glencor ra
Argus e
E5(fob
AR)
Ebob $727 Shell, Varo,
Barges 11KT Exxon Totsa
E10 Argus
(fob AR)
Jan. swap $741.25 $725.25
fob ARA
Premium
Unleaded
(fob ARA)
<PU-10PP-
ARA>
Cargoes
(fob MED)
Cargoes
(cif NWE)
Naphtha Jan
(cif NWE) +$14
<NAF-C-NW
E>

Ebob crack (per barrel) $8.6 Prev. $9.7
Brent futures
Rbob
Rbob crack <RBc1-CLc1>
(Reporting by Ahmad Ghaddar; Editing by Mark Porter)

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18 Dec 2023 16:55

LONDON MARKET CLOSE: FTSE 100 outperforms European peers

(Alliance News) - Stock prices in London closed higher on Monday, after investors shrugged off hawkish comments from US Federal Reserve officials amid festive cheer.

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18 Dec 2023 12:52

Red Sea attacks force rerouting of vessels, disrupting supply chains

DUBAI, Dec 18 (Reuters) - Mounting attacks by the Iran-aligned Yemeni Houthi militant group on ships in the Red Sea are disrupting maritime trade as leading global freight firms reroute around the Cape of Good Hope to avoid the Suez canal.

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18 Dec 2023 11:50

BP becomes latest to pause Red Sea shipments as attacks continue

(Sharecast News) - BP has announced that it is halting all oil shipments through the Red Sea, becoming the latest company to pause regional routes after a series of targeted attacks by Yemen's Houthi rebels.

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14 Dec 2023 07:43

LONDON BRIEFING: Eyes on BoE and ECB; US Fed signals 2024 rate cuts

(Alliance News) - Stocks are called to open higher on Thursday, after the US Federal Reserve chose not to surprise markets with its latest interest rate decision.

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13 Dec 2023 23:16

Newcomer Elysian, Petrobras notch big wins in Brazil oil auction

RIO DE JANEIRO, Dec 13 (Reuters) - Oil companies including Elysian along with veterans Petrobras and Chevron snapped up the most blocks up for grabs in Brazil's latest offshore oil auction marked by climate protests, as the South American nation looks to replenish reserves with new discoveries.

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