BP just jumped 3.1% while rivals stumbled - here's what traders missed
Key Points
- BP updates suggest increased production and a stock rise, bu...
BP decided to throw everyone a curveball this week by actually delivering good news. On July 11, the oil giant announced they're not just keeping production steady for Q2 - they're cranking it up. Plus, their trading desk apparently remembered how to make money. The stock rewarded this rare display of competence with a 3.1% pop, leaving Shell and Exxon looking like they showed up to the wrong party.
The Plot Thickens (Like Crude Oil)
Here's where things get interesting. While BP is doing its victory lap, oil prices are sitting around $70 a barrel looking about as enthusiastic as a Monday...
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