Where next for the BP share price?
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In some respects, forecasting the BP (LSE:BP.) share price is quite easy. When energy prices are high — particularly oil – the stock generally rises. Conversely, the energy giant’s market-cap tends to drop when prices fall.
Anyone wanting evidence of this only has to look back five years. At the height of the pandemic, when energy consumption fell sharply, BP’s shares dropped below 200p. By February 2023, after a period of high oil and gas costs following Russia’s invasion of Ukraine, the group’s shares were changing hands for 560p.
Today (25 June), an investor could buy one for 368p.
On the other hand…
But this is only half the story. That’s because accurately…
