BP PLC (NYSE: BP) and Shell PLC (NYSE: SHEL), are trading higher Tuesday amid continued strength in oil prices in the wake of Russia's invasion of Ukraine.
There seems to be more runway for big oils and the geopolitical disruption scenarios seem underpriced, according to BofA Securities.
The European Oil & Gas Outlook: Analyst Christopher Kuplent named Shell and TotalEnergies as the Big Oil top picks and changed the target prices for:
This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
With the Russian ruble sinking to fresh lows and global companies exiting the market, forecasts of a looming collapse of the $1.7 trillion Russian economy have grown since the Kremlin launched its military attacks on Ukraine less than two weeks
Shell plc (Shell) today announced its intent to withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas (LNG) in a phased manner, aligned with new government guidance.
This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Someone with a lot of money to spend has taken a bearish stance on Shell (NYSE:SHEL).
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
WTI crude oil prices have surged to 11-year highs above $108 per barrel in March in the wake of the Russian invasion of Ukraine. The geopolitical instability has rattled financial markets, but the energy sector is soaring.