Bullish mood lifts BP to session high of $35.63

Published: May 27 2023, 04:56 GMT+0

Bullish mood lifts BP to session high of $35.63

Yesterday at a glance: after ending Thursday at $35.36, BP went up to $35.63 only to drop back, yet still traded well overall and closed at $35.55 yesterday.

On the flip side, United States Core Durable Goods Orders published yesterday at 12:30 UTC came out at -0.2%, falling short of the 0% projections and continuing its decline from the previous 0.3% figure.

Meanwhile, United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 193,100, while the previous figure was 191,500.

While BP was bullish yesterday, the following energy stocks underperformed: Exxon Mobil closed at $104.97 (down 0.65%).

On a negative trend for around a month. Over the past 3 months, the oil and gas "supermajor" has retreated 13.8% from a noteworthy peak of $41.02.