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BP p.l.c.

BP Acquires 40% Stake in Six Blocks in Uzbekistan

BP CEO Meg O'Neill Announces Business Restructuring Launch

France Leads G7 in Calling for Methane Emissions Reduction from Fossil Fuel Industry

Active Asian Spot Fuel Oil Market with BP Purchasing All Supplies

BP's North Sea Assets Sale Valued Up to £2 Billion

BP Signs Offshore Exploration Agreement with Venezuela

BP Reports Q1 Adjusted Net Profit Above Expectations

BP Elects Albert Manifold as Chairman

BP's new chairman receives backing from major shareholders

UK inflation rate climbs to 3.3%, highest in a year

UK Inflation Rises to 3.3% Due to Impact of Iran War

Bank of America Global Research Raises BP's Target Price to 460 Pence

TD Cowen cuts BP's target price to $44

BP Expects Profits to be Realized in the Second Half

BP to Split into Two Business Entities

BP's Q1 Operating Data Reflects Impact of Middle East Situation

BP Expects Strong Performance in Oil Trading, Moderate in Natural Gas

German Economy Minister Reviews Klesch Group's Acquisition of BP's German Refining Assets

Citigroup Raises BP Target Price

Berenberg Raises BP Target Price to 700 Pence

The closure of the Hormuz Strait has led to a historic supply shock, removing up to 20% of global oil supply, according to the IEA. Swiss chemicals company Clariant reported a 16% drop in Q1 profit due to weakened demand in the Middle East and rising costs. OPEC's output has decreased by over 30% since the onset of the war, with Aramco warning that disruptions may continue until 2027.

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Hormuz blockade drives record oil shock, corporate hits

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The Indian Rupee has hit a new record low against the US dollar, influenced by the lack of progress in US-Iran negotiations and rising oil prices. The US dollar has strengthened due to higher-than-expected inflation data and a shift in Federal Reserve policy towards potential rate hikes. The Rupee's performance is closely tied to oil prices, with any positive developments in US-Iran relations potentially providing support. However, ongoing tensions could lead to further declines in the Rupee's value. Upcoming US economic data, including retail sales and jobless claims, may impact market direction.

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Indian Rupee sinks to new record lows and consolidates: US-Iran remains the main driver

EUROPEAN CENTRAL BANK IS EDGING CLOSER TO RAISING INTEREST RATES TO PREVENT THE LATEST OIL SHOCK FROM MORPHING INTO A BROADER INFLATION SPIRAL, ACCORDING TO ONE OF ITS MORE DOVISH POLICYMAKERS.

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EUROPEAN CENTRAL BANK IS EDGING CLOSER TO RAISING INTEREST RATES TO PREVENT THE LATEST OIL SHOCK FROM MORPHING INTO A BROADER INFLATION SPIRAL, ACCORDING TO ONE OF ITS MORE DOVISH POLICYMAKERS.

Iran has allowed selective passage for specific tankers, including two Iraqi supertankers, through the Strait of Hormuz due to bilateral agreements. Meanwhile, the U.S. has expanded its 'Economic Fury' campaign, imposing sanctions on IRGC-linked oil networks and freezing $344 million in cryptocurrency associated with Iran's central bank. This situation is contributing to a rapid decline in global oil inventories, exacerbated by Middle Eastern output cuts and ongoing tensions in Hormuz, leading to increased price volatility in the energy market.

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Iran allows selective tanker passage through Hormuz amid sanctions push

Asia Pacific banks are expected to increase loan loss provisions due to the ongoing Iran conflict, which is impacting economic prospects in the region reliant on Middle Eastern oil. Analysts indicate that banks in Australia, Singapore, and India are flagging potential credit hits, with provisions set aside significantly lower than during the COVID-19 pandemic. The Asian Development Bank has revised its growth forecast downwards, and banks are bracing for potential credit losses amid rising oil prices and economic instability. The situation remains fluid, with banks cautiously assessing risks and preparing for possible disruptions.

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Analysis-Asia Pacific banks face growing credit risks, raise provisions as Iran war drags on

BP p.l.c.(BP.UK)

Hormuz blockade drives record oil shock, corporate hits

Indian Rupee sinks to new record lows and consolidates: US-Iran remains the main driver

EUROPEAN CENTRAL BANK IS EDGING CLOSER TO RAISING INTEREST RATES TO PREVENT THE LATEST OIL SHOCK FROM MORPHING INTO A BROADER INFLATION SPIRAL, ACCORDING TO ONE OF ITS MORE DOVISH POLICYMAKERS.

Iran allows selective tanker passage through Hormuz amid sanctions push

Analysis-Asia Pacific banks face growing credit risks, raise provisions as Iran war drags on