@WSJ reports talks are active, with BP “considering the approach carefully.” The industry has its doubts a deal will be done. Acquiring BP would put Shell more on par with its larger US competitors Exxon Mobil XOM & Chevron CVX.
Bloomberg & CNBC have reported that a deal for the whole company is unlikely, but the sale in parts could be on the table.
After surging +20% in the past month, Oil cooled off following Iran's capitulation in the face of Israeli & US bombardments. Their pre-announced "retaliation" against the US base in Qatar was all the market needed to shed its gains.
