- The BP share price rises strongly, with the company the subject of a rumor interest from competitors, which can be pushed over other oil shares.
The BP share price has risen to levels higher than five weeks due to renewed optimism about the demand for crude oil after a breakthrough in commercial talks between the United States and China. The stock increased by 3.3 % on the daily chart to the highest level in the GBX 385, as it resides on the right track to record the third consecutive session of the gains. In addition, this escalation saw that it remained decisively on the upscale path after its recent rejection in the GBX 370.
On Monday, the United States and China have agreed to significantly reduce mutual and revenge commercial tariffs over the next ninety days, which raises hope for the revitalization of the inflated global economy. The United States has agreed to reduce customs tariffs from 145 % to 30 %, while China reduced its rate from 125 % to 10 %.
Rumors of acquisition on BP add the payment to the stock price
The momentum on the price of the BP share is not due to the US -Chinese trade talks. The company is currently the subject of a rumor interest from some of its peers. The Financial Times reported last week that Shell, Chevron, Exagonobil, AdNOC and Totaleneergies weighs the possibility of BP.
Although BP (LSE: BP) has not yet commented on the news, it is possible that the resulting feelings continue to add payment to the price of their share. The British oil giant has struggled to maintain competition recently. Over the full year 2024, it was $ 0.29 billion, a large decrease from 15.39 billion dollars registered in 2023.
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BP share price expectations
The axis of the BP price in GBX 381 is preferred and momentum is preferred to stay higher than this level. With buyers control, the arrow is likely to correspond to the first resistance in the GBX 386. It will break a stronger momentum above this level and the procedure is likely to take a higher test for the GBP 390 test.
Instead, the procedure will turn to the negative side if the price is less than GBX 381. This is likely to witness the first support created in the GBX 372. The extensive control by the sellers will lead to a decrease in the procedure and nullifying the upper direction. Also, this momentum can take the price for the second support test in GBX 365.
