Despite the sluggish price of oil (WTI - $52.73) and BPT drifting back down from its recent highs in the $2.70~ region, the SP is actually holding up much better than it normally should and seems to have found a permanent ledge above the $2.20 level that it crossed a few times in the past. It was only recently it was $1.88 (where I stepped back in) but barring any dramatic plunge in the PoO I doubt we'll see sub $2 again.
With the Australian economy threatening to weaken from here (taking the AUD with it) I'm holding BPT for the long term despite risks to oil price from China's coming decline. Shorts are steadily declining suggesting there's no perception or knowledge of any particular headwinds for BPT in the near-midterm future.
Price action
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Last
$1.51 |
Change
-0.005(0.33%) |
Mkt cap ! $3.444B | |||
| Open | High | Low | Value | Volume |
| $1.52 | $1.52 | $1.50 | $9.759M | 6.470M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 102542 | $1.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.52 | 80024 | 6 |
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| Last trade - 16.10pm 23/07/2024 (20 minute delay) ? |
| BPT (ASX) Chart |