BP shows market gains due to oil demands2009-12-23

BP shows market gains due to oil demands Image Solid gains have been posted today (Wednesday December 23rd) by the FTSE 100 on the last full trading session before the Christmas break, with BP and Royal Dutch Shell doing particularly well out of it.

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The FTSE 100 advanced by 0.8 per cent to 5,372.95, bring the year-to-date gains to around 21 per cent and showing that the industry is capably matching the demand for oil and gas across the world.

It adds to the rally that both BP and Royal Dutch Shell had, with the organisations seeing 0.8 per cent and 1.1 per cent jumps in shares respectively in the last couple of sessions.

Crude-oil prices also notably jumped, with February-dated light crude contract rising by $1.07 (62p) to $75.45 (£47.31) a barrel.

Petrofac, Tullow Oil and the BG Group also made profits over the last week.

Recently, there has been talk that the state-owned oil company of China - the National Offshore Oil Corporation - is the frontrunner to buy Royal Dutch Shell's onshore assets in an expected auction early next year.
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