rtmark
LearnBonds.com

BP Stock Crashes to 9-Year Low, Pushes FTSE 100 into Bear Market  

BP stock price lost close to 20 per cent of value in a broader market selloff that wiped off close to £100bn value of London’s blue-chip companies. The oil price crash pegged back UK’s FTSE 100 to its lowest level in three years. The index has already struggled over the month on investor’s concerns over whether slowing production caused by the coronavirus will tip the global economy into recession.

BP Stock Crashes to...

Oil prices plunged to $30 a barrel in Monday trading after Russia refused to cut production to bolster prices. Saudi Arabia’s announcement of boosting production from the next month in response to the Russian decision added to falling oil prices.

“Saudi Arabia declared an oil price war this weekend, as OPEC departed Vienna on Friday without a deal. It’s still a slight hope that Saudi Arabia is playing this card in an effort to push OPEC members back to the negotiation table before the current production cuts expire at the end of March,” Bjarne Schieldrop, chief commodities analyst at SEB said.

FTSE 100 pared some early losses but the index is still down 5.5 per cent, driven by a massive share price decline of oil stocks. European stocks also endured a bear market.

BP Stock Crashes to...

BP had reported a substantial decline in revenue and earnings in the last quarter. The company blamed lower oil prices for the 26% year-on-year fall in fourth-quarter earnings. Oil prices plunged almost by half in the last three months – which means oil firms like BP are likely to face more financial headwinds in the coming days. Shell tumbled 13% in early trading, while on the FTSE 250, shares in Premier Oil plunged 53% and Tullow Oil fell 28%.

Find more information about how to buy and trade oil stocks in our stock trading guide here.

Trusted & Regulated Stock & CFD Brokers

Rating

What we like

  • 0% Fees on Stocks
  • 5000+ Stocks, ETFs and other Markets
  • Accepts Paypal Deposits

Min Deposit

$200

Charge per Trade

Zero Commission

Rating

64 traders signed up today

Visit Now

75% of investors lose money when trading CFDs.

Available Assets

  • Total Number of Stocks & Shares5000+
  • US Stocks
  • German Stocks
  • UK Stocks
  • European
  • ETF Stocks
  • IPO
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 Zero Commission
  • NASDAQ Zero Commission
  • DAX Zero Commission
  • Facebook Zero Commission
  • Alphabet Zero Commission
  • Tesla Zero Commission
  • Apple Zero Commission
  • Microsoft Zero Commission

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
  • Paypall
  • Skrill
  • Neteller

Rating

What we like

  • Sign up today and get $5 free
  • Fractals Available
  • Paypal Available

Min Deposit

$0

Charge per Trade

$1 to $9 PCM

Rating

Visit Now

Investing in financial markets carries risk, you have the potential to lose your total investment.

Available Assets

  • Total Number of Shares999
  • US Stocks
  • German Stocks
  • UK Stocks
  • European Stocks
  • EFTs
  • IPOs
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 $1 - $9 per month
  • NASDAQ $1 - $9 per month
  • DAX $1 - $9 per month
  • Facebook $1 - $9 per month
  • Alphabet $1 - $9 per month
  • Telsa $1 - $9 per month
  • Apple $1 - $9 per month
  • Microsoft $1 - $9 per month

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
Users should remember that all trading carries risks and users should only invest in regulated firms. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Avatar

Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.