BP

Sector Update: Energy Stocks Mostly Higher Pre-Bell Thursday

Energy stocks were mostly higher premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) gaining 0.6%.The United States Oil Fund (USO) was up 0.1%, while the United States Natural Gas Fund (UNG) was 1.5% lower.Front-month US West Texas Intermediate crude oil was up 0.5% to $90.46 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.2% to $93.26 per barrel, and natural gas futures were 1.7% lower at $3.13 per 1 million British Thermal Units.BP (BP) stock was up more than 2% before market open a day after the company said its Whiting refinery team held a 63rd formal bargaining meeting with the United Steelworkers Local 7-1 committee to discuss a new labor contract.Energy Fuels (UUUU) shares rose 3.2% after the company said it expects finished uranium production at its White Mesa Mill to reach approximately 1.6 million pounds by June 30, which would already be within its full-year guidance range of 1.5 million to 2.5 million pounds of U3O8.Expro (XPRO) shares gained 1.3% pre-bell after the company said it signed a two-year contract with a major operator in the United Arab Emirates to provide testing and flowback services for unconventional wells.

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid US Attacks on Iran

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.3% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.6% in Thursday's premarket activity, amid US attacks on Iran and ahead of economic data.US stock futures were also higher, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures gaining 0.8% before the start of regular trading.May's producer price index, a measure of wholesale prices, and the weekly jobless claims bulletin are scheduled to be released at 8:30 am ET.Weekly natural gas stocks post at 10:30 am ET.In premarket action, bitcoin was up by 3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.9% higher, Ether ETF (EETH) advanced 1.9%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 0.1%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1.4% and the Vanguard Industrials Index Fund (VIS) added 0.3%, while the iShares US Industrials ETF (IYJ) was 0.6% lower.PureCycle Technologies (PCT) stock was down more than 16% before the opening bell after the company priced simultaneous public offerings of debt and equity to generate $395 million in total gross proceeds.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) and the iShares US Technology ETF (IYW) advanced 1.4% each, while the iShares Expanded Tech Sector ETF (IGM) was up 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 3.2%, while the iShares Semiconductor ETF (SOXX) rose by 3%.Oracle (ORCL) shares were down more than 10% in premarket activity as the cloud computing company announced plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.7% lower.WisdomTree (WT) shares were down more than 5% pre-bell, continuing from a 1.9% fall in the previous session. The company reported higher assets under management and net inflows for May.HealthcareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) was down 0.5%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.9% higher.Novartis (NVS) stock was up more than 2% premarket after the company said a phase 1/2 study of its experimental therapy, del-brax, met both primary and key secondary endpoints in patients with facioscapulohumeral muscular dystrophy.EnergyThe iShares US Energy ETF (IYE) advanced 0.02%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1%.BP (BP) stock was up more than 2% before market open a day after the company said its Whiting refinery team held a 63rd formal bargaining meeting with the United Steelworkers Local 7-1 committee to discuss a new labor contract.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated by 0.01%. The iShares US Consumer Staples ETF (IYK) fell by 0.7%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.3%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) rose by 0.8%.Tesla (TSLA) shares were up nearly 1% pre-bell after Annick De Ridder, Flemish Minister of Mobility, Public Works, Ports, and Sport, said in an X post that the EV maker's full self-driving technology has been approved in Belgium.CommoditiesFront-month US West Texas Intermediate crude oil rose 0.9% to $90.83 per barrel on the New York Mercantile Exchange. Natural gas was down 1.5% at $3.14 per 1 million British Thermal Units. The United States Oil Fund (USO) rose 0.4%, while the United States Natural Gas Fund (UNG) was 1.2% lower.Gold futures for July retreated by 0.7% to $4,105.70 an ounce on the Comex. Silver futures declined by 1.3% to $63.87 an ounce. SPDR Gold Shares (GLD) was up by 0.04%, and the iShares Silver Trust (SLV) decreased by 0.2%.

Sector Update: Energy

Energy stocks were up premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) gaining 0.4%.The United States Oil Fund (USO) was down 1.4%, while the United States Natural Gas Fund (UNG) was 1.1% lower.Front-month US West Texas Intermediate crude oil was down 1.3% to $88.86 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 1.4% to $91.81 per barrel, and natural gas futures were 2% lower at $3.12 per 1 million British Thermal Units.BP (BP) stock was up more than 1% before market open a day after the company said its Whiting refinery team held a 63rd formal bargaining meeting with the United Steelworkers Local 7-1 committee to discuss a new labor contract.

BP, United Steelworkers Continue Labor Contract Discussions

BP (BP) said Wednesday its Whiting refinery team held a 63rd formal bargaining meeting with the United Steelworkers Local 7-1 committee to discuss a new labor contract."We are encouraged that discussions have continued, but the parties remain far apart on proposals that are critical to the refinery," the company said. "The refinery continues to operate safely, reliably, and compliantly, with no impacts to operations as a result of the current labor dispute."

Sector Update: Energy Stocks Decline Late Afternoon

Energy stocks were lower late Tuesday afternoon, with the NYSE Energy Sector Index falling 1.8% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2%.The Philadelphia Oil Service Sector Index was shedding 2.3%, and the Dow Jones US Utilities Index rose 0.6%.Oil prices declined on Tuesday after President Donald Trump said the Iran war could end within days. Trump told reporters in New York that a diplomatic resolution to the Middle East conflict could be reached in "two or three days," CNBC reported. The critical Strait of Hormuz, which remains effectively shut, would reopen "immediately" after the deal, Trump reportedly said.Front-month West Texas Intermediate crude oil fell 3.4% to $88.18 a barrel, and the global benchmark Brent crude contract dropped 2.9% to $91.53 a barrel. Henry Hub natural gas futures decreased 0.4% to $3.14 per 1 million BTU.In corporate news, BP (BP) said Tuesday the company will be run under a new, simplified organizational structure -- Upstream and Downstream -- from July 1. BP shares were down 3%.Uranium Energy (UEC) shares tumbled 18% after the firm reported a fiscal Q3 net loss of $0.11 per share, widening from a loss of $0.07 a year earlier. Analysts surveyed by FactSet expected a loss of $0.03.SLB (SLB) said Tuesday it signed a memorandum of understanding with Qualcomm (QCOM) to enable edge AI offerings for the energy sector. SLB shares were down 2.5%.Halliburton (HAL) said it has entered into an agreement with Pampa Energia to support the digital transformation of its unconventional operations in Argentina's Vaca Muerta shale region. Halliburton shares declined 2.7%.

Sector Update: Energy Stocks Decline Tuesday Afternoon

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.9%.The Philadelphia Oil Service Sector Index was shedding 2.4%, and the Dow Jones US Utilities Index rose 0.8%.Oil prices declined on Tuesday after President Donald Trump said the Iran war could end within days. Trump told reporters in New York that a diplomatic resolution to the Middle East conflict could be reached in "two or three days," CNBC reported. The critical Strait of Hormuz, which remains effectively shut, would reopen "immediately" after the deal, Trump reportedly said.Front-month West Texas Intermediate crude oil fell 3.6% to $88.05 a barrel, and the global benchmark Brent crude contract dropped 2.8% to $91.59 a barrel. Henry Hub natural gas futures increased 0.3% to $3.16 per 1 million BTU.In corporate news, BP (BP) said Tuesday the company will be run under a new, simplified organizational structure -- Upstream and Downstream -- from July 1. Shares were down 2.7%.Uranium Energy (UEC) shares tumbled 16% after the firm reported a fiscal Q3 net loss of $0.11 per share, widening from a loss of $0.07 a year earlier. Analysts surveyed by FactSet expected a loss of $0.03.Halliburton (HAL) said it has entered into an agreement with Pampa Energia to support the digital transformation of its unconventional operations in Argentina's Vaca Muerta shale region. Halliburton shares declined 2.7%.

Sector Update: Energy

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 1.5% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.6%.The Philadelphia Oil Service Sector Index was shedding 2.4%, and the Dow Jones US Utilities Index rose 1%.Oil prices declined on Tuesday after President Donald Trump said the Iran war could end within days. Trump told reporters in New York that a diplomatic resolution to the Middle East conflict could be reached in "two or three days," CNBC reported. The critical Strait of Hormuz, which remains effective shut, would reopen "immediately" after the deal, Trump reportedly said.Front-month West Texas Intermediate crude oil fell 3.9% to $87.77 a barrel, and the global benchmark Brent crude contract dropped 3% to $91.43 a barrel. Henry Hub natural gas futures increased 0.2% to $3.15 per 1 million BTU.In corporate news, BP (BP) said Tuesday that the company will be run under a new, simplified organizational structure composed of two distinct business segments -- Upstream and Downstream -- beginning July 1. BP shares were down 2.6%.

European Equities Traded in the US as American Depositary Receipts Track Higher in Tuesday Trading

European equities traded in the US as American depositary receipts were trending higher late Tuesday morning, rising 0.80% to 1,882.97 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biopharmaceutical company Cellectis (CLLS) and semiconductor company Sequans Communications (SQNS), which rose 3.8% and 3.7% respectively. They were followed by healthcare tech company Royal Philips (PHG) and biopharmaceutical company Grifols (GRFS), which were up 2.9% and 2.5% respectively.The decliners from continental Europe were led by telecommunications company Ericsson (ERIC) and petroleum refiner Equinor (EQNR), which dropped 5% and 2.6% respectively. They were followed by telecommunications company Nokia (NOK) and SAP (SAP), which lost 1.5% and 1% respectively.The gainers from the UK were led by communications company WPP (WPP) and biopharmaceutical company Amarin (AMRN), which advanced 7.9% and 5.6% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and biopharmaceutical company Akari Therapeutics (AKTX), which increased 5.1% and 2.7% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and oil and gas company BP (BP), which fell 2.2% and 1.8% respectively. They were followed by oil and gas company Shell (SHEL) and lender HSBC (HSBC), which were down 1.3% and 1.1% respectively.

Sector Update: Energy Stocks Lean Lower Premarket Tuesday

Energy stocks were leaning lower premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.5%.The United States Oil Fund (USO) was down 2.4% and the United States Natural Gas Fund (UNG) was flat.Front-month US West Texas Intermediate crude oil was 2.5% lower at $89.04 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 2.3% to $92.04 per barrel, and natural gas futures were up 0.2% at $3.15 per 1 million British Thermal Units.BP (BP) said it will be run under a new, simplified organizational structure composed of two distinct business segments, upstream and downstream, beginning July 1. Shares of BP were 0.8% lower pre-bell.Halliburton (HAL) said it has signed a multi-year agreement with Pampa Energia to support the digital transformation of its unconventional operations in Argentina's Vaca Muerta shale region. Halliburton stock was down 0.9% premarket.Equinor (EQNR) said its corporate assembly elected Jarle Roth as chair of the board beginning July 1, following the departure of Jon Erik Reinhardsen. Equinor shares were 1.6% lower pre-bell.

Sector Update: Energy

Energy stocks were leaning lower premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.5%.The United States Oil Fund (USO) was down 2.1% and the United States Natural Gas Fund (UNG) was 1.1% higher.Front-month US West Texas Intermediate crude oil was 2.1% lower at $89.42 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.5% to $92.86 per barrel, and natural gas futures were up 1.2% at $3.18 per 1 million British Thermal Units.BP (BP) said it will be run under a new, simplified organizational structure composed of two distinct business segments, upstream and downstream, beginning July 1. Shares of BP were 0.7% lower pre-bell.

BP to Reorganize Around Two Distinct Segments: Upstream and Downstream

BP (BP) said Tuesday that the company will be run under a new, simplified organizational structure composed of two distinct business segments -- Upstream and Downstream -- beginning July 1.Gordon Birrell has been appointed as executive vice president for Upstream, while Richard Harding was named interim executive vice president for Downstream, BP said.

BP to Reorganize Around Two Distinct Segments: Upstream and Downstream

Update: Market Chatter: BP Investors Raise Strategy Concerns After Chairman Manifold's Removal

(Updates with company response)Certain BP (BP) shareholders are raising concerns over the company's future strategy following the removal of Chairman Albert Manifold, the Financial Times reported Tuesday, citing investors.Manifold led the company's restructuring plan and cost-cutting drive, and his departure left investors worried that BP would lose its momentum, the report said. BP told investors that it would continue Manifold's strategy of simplifying the company, FT reported.Shareholders were also looking for more clarity over Manifold's removal, claiming limited details were disclosed over the circumstances that led to his departure, according to the report.BP reiterated tothat it is firmly focused on cost discipline and delivering value for shareholders.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Market Chatter: BP Investors Raising Strategy Concerns After Chairman Manifold's Removal

Certain BP (BP) shareholders are raising concerns over the company's future strategy following the removal of Chairman Albert Manifold, the Financial Times reported Tuesday, citing the investors.Manifold led the company' restructuring plan and cost-cutting drive and his departure left investors worried that BP would lose its momentum, the report said. BP told investors that it would continue Manifold's strategy of simplifying the company, FT reported.Shareholders were also looking for more clarity over Manifold's removal, claiming limited details were disclosed over the circumstances that led to his departure, according to the report.BP did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

SLB OneSubsea Secures Contract for BP Project in US Gulf

SLB OneSubsea, a joint venture partly owned by energy technology firm SLB (SLB), has been awarded a contract from BP (BP) to provide a subsea boosting system for the latter in the Gulf of Mexico, recognized by the US government as Gulf of America, SLB said on Monday.The engineering, procurement and construction contract for BP's project dubbed Thunder Horse, comes after other BP contract awards to OneSubsea for the Kaskida and Tiber developments.All three will make use of the same boosting system solution, SLB said.Its benefits include improved execution efficiency and shorter delivery times, the statement said."Subsea boosting is an important enabler for extending production from existing assets," said Mads Hjelmeland, CEO of SLB OneSubsea.

European Equities Traded in the US as American Depositary Receipts Start Week Higher in Monday Trading

European equities traded in the US as American depositary receipts kicked off the week higher late Monday morning, lifting 0.82% to 1,874.41 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by semiconductor company Sequans Communications (SQNS) and biotech firm Evaxion (EVAX), which rose 7% and 4.5% respectively. They were followed by accommodations booking company trivago (TRVG) and telecommunications company Nokia (NOK), which increased 4.4% and 1.7% respectively.The decliners from continental Europe were led by pharmaceutical company Novo Nordisk (NVO) and biopharmaceutical company Cellectis (CLLS), which fell 2.9% and 2.3% respectively. They were followed by pharmaceutical company Sanofi (SNY) and biopharmaceutical company Grifols (GRFS), which were down 2% each.The gainers from the UK were led by biopharmaceutical companies Biodexa Pharmaceuticals (BDRX) and NuCana (NCNA), which advanced 4.5% and 3.3% respectively. They were followed by oil and gas company BP (BP) and biopharmaceutical company Amarin (AMRN), which were up 1.7% and 1.6% respectively.The decliners from the UK and Ireland were led by biotech company Autolus Therapeutics (AUTL) and biopharmaceutical company Mereo BioPharma Group (MREO), which dropped 4.2% and 2.4% respectively. They were followed by utilities company National Grid (NGG) and pharmaceutical company GSK (GSK), which lost 2% and 1.2% respectively.

Sector Update: Energy Stocks Advance Premarket Monday

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.7% higher.The United States Oil Fund (USO) was up 1.9% and the United States Natural Gas Fund (UNG) was 2.8% lower.Front-month US West Texas Intermediate crude oil was 1.3% higher at $91.69 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.7% to $94.68 per barrel, and natural gas futures were down 3.1% at $3.13 per 1 million British Thermal Units.Eni (E) and Petronas have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia, the companies said. Shares of Eni were up more than 1% pre-bell.Devon Energy (DVN) stock was up more than 1% after the company said between 66% and 98% of notes across seven bond series were tendered early to its exchange offers.SLB (SLB) said its OneSubsea joint venture won a contract from BP (BP) to provide a subsea boosting system for the Thunder Horse development in the Gulf of America. SLB shares were 0.5% higher premarket.

Sector Update: Energy Stocks Decline Friday Afternoon

Energy stocks declined Friday afternoon with the NYSE Energy Sector Index falling 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 1.2%.The Philadelphia Oil Service Sector Index slumped 3.5%, and the Dow Jones US Utilities Index advanced 1.2%.In sector news, skirmishes continued overnight between Hezbollah and Israel in southern Lebanon after the Iran-backed militant group rejected a US-brokered proposal aimed at securing a broader truce, Bloomberg reported.US President Donald Trump said he would meet with Iranian Supreme Leader Ayatollah Mojtaba Khamenei if a deal is finalized to end the US-Iran war.West Texas Intermediate crude oil fell 3.2% to $90.04 a barrel, and global benchmark Brent declined 2.2% to $92.96 a barrel. Henry Hub natural gas futures dropped 3.5% to $3.22 per 1 million BTU.In corporate news, Eni (E) signed a petroleum exploration, development and production license agreement with the government of Gambia for the offshore block A1. Eni shares dropped 0.9%.BP (BP) agreed to subscribe for 10 million British pounds ($13.5 million) in convertible loan notes and secure exclusive crude oil marketing rights in new agreements, Coastal Africa Group said. BP stock fell 1.4%.Turbo Energy (TURB) regained compliance with Nasdaq's minimum stockholders' equity requirement after strengthening its balance sheet through $5 million in capital raises. Turbo shares fell 3.4%.

Pakistan Buys Priciest LNG Shipment in Years From BP Singapore

Pakistan secured a cargo of liquefied natural gas at $19.13 per million British thermal units from BP (BP), the country's most expensive LNG shipment in four years, as it grapples with an energy shortage amid the double closure of the Strait of Hormuz.The purchase, for delivery between Jun. 6 and 8, reportedly follows the cancellation of a planned shipment from Qatar amid heightened tensions in the Middle East.The LNG tender that closed on Thursday included global energy firms such as PetroChina, Vitol, TotalEnergies (TTE), and Azerbaijan's SOCAR Trading.Pakistan is among the hardest hit by the Middle East conflict, as it depends on Qatar for nearly all its LNG and has experienced rolling blackouts due to severe fuel shortages, according to media reports.Price: $43.42, Change: $-0.62, Percent Change: -1.41%

BP Secures Long-Term Crude Offtake Rights in New Deal with Coastal Africa Group

BP (BP) has secured exclusive rights to market and lift crude oil and condensate from future projects developed by Coastal Africa Group under a long-term agreement linked to a convertible loan facility, the companies said on Friday.Coastal Africa Group said it entered into an exclusivity agreement with BP Oil, granting the energy firm and its affiliates the exclusive right to offtake and market all crude oil and condensate production to which the group becomes entitled through its projects.The deal is part of a broader financing package tied to a convertible loan note agreement and positions BP as the preferred marketing partner for future hydrocarbon output generated by Coastal Africa's portfolio.Under the deal, BP's exclusivity will remain in place until it has lifted a specified minimum aggregate volume of crude oil and condensate under separate offtake and marketing agreements. Coastal Africa said that any extension beyond that period would require mutual consent.Coastal Africa agreed to use reasonable efforts to structure future projects and commercial arrangements so that either the energy firm or BP could market production from project partners and third-party producers.The agreement includes financial penalties designed to protect BP's exclusivity. Coastal Africa and its subsidiaries may be liable to pay per-barrel damages if they breach the exclusivity provisions.The agreement can be terminated under certain conditions, including insolvency events or changes of control affecting either party. Termination, in some cases, could trigger compensation payments by Coastal Africa based on the minimum committed volume.BP also retains the right to terminate the agreement without cause upon written notice. The exclusivity arrangement will remain effective regardless of whether the convertible loan is repaid or converted into equity, and will not be affected if BP subsequently sells any shares.Price: $43.89, Change: $-0.15, Percent Change: -0.34%