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0 0.00170794192997434 0.00170794192997434 0.00042698548249351 -0.00213492741246801 0.0196413321947053 0.0307429547395388 0.0315969257045258
Stock impact report

BP's net profit slides 67% in the first quarter following a historic fall in oil prices [MSNBC.com]

BP p.l.c. (BP) 
Last bp p.l.c. earnings: 4/29 04:01 pm Check Earnings Report
Company Research Source: MSNBC.com
A BP company logo is displayed on a fuel pump on the forecourt of a gas station operated by BP Plc in London, U.K.Chris Ratcliffe | Bloomberg | Getty Images giant Analysts had expected first-quarter underlying replacement cost profit to come in at $987 million, according to data compiled by Refinitiv."A good quarter but, undoubtedly, a very brutal environment," BP CEO Bernard Looney told CNBC's "Squawk Box Europe" on Tuesday.BP's results come shortly after a historic plunge in oil prices. The May contract of U.S. West Texas Intermediate plunged below zero to trade in negative territory for the first time in history last week. Trading volume was thin given it was the day before the contract's expiration date, but the move lower was unprecedented nonetheless.WTI futures had fetched more than $60 a barrel at the start of the year. A dramatic fall-off in demand as a result of the coronavirus outbreak has sent oil prices tumbling.On Tuesday, the June contract of WTI traded at $10.44 per ba Show less Read more
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