LONDON, June 12, 2026, 10:03 BST
- BP dropped over 4% in London. Brent and WTI crude both moved lower as traders reacted to fresh U.S.-Iran peace signals.
- The stock traded against a broad European rally. Energy was the main laggard in the region.
- RBC is staying “Outperform” on BP with a 700p price target. BP’s shift to a new two-segment structure is still getting attention.
BP PLC shares dropped Friday as sliding crude hit UK energy names. BP traded at 521.40p in London, off 23.90p, or 4.38%. The stock moved between 521.38p and 532.20p for the session, Investing.com data showed. Market cap was listed at about £80.62 billion.
Oil dropped after renewed hopes for a US-Iran peace deal, sparking a selloff. WTI crude for July delivery slid around 4% to $84.20, while Brent for August fell 3.7% to $87.07 a barrel, according to Investing.com. BP shares lost 3.7%, Shell fell 2.6% by 08:13 GMT.
Brent crude dropped $2.11, or 2.3%, at $88.27 a barrel by 0640 GMT, Reuters said. U.S. WTI lost $1.90, or 2.2%, to $85.81. “While this could, of course, be yet another false dawn, the market’s reaction has been both swift and decisive,” IG analyst Tony Sycamore told Reuters. Reuters
BP lagged while the broader European stock market moved up. Reuters said the STOXX 600 index rose 1.2% to 628.81 in early trading, with every sector except energy in the green as traders reacted to lower geopolitical risk and easing oil prices.
BP shares moved days after the company detailed a simpler structure under new CEO Meg O’Neill. From July 1, BP said it will shift from three segments to two—Upstream and Downstream. Gordon Birrell gets the executive vice president role for Upstream, with Richard Harding named interim executive vice president of Downstream. The company plans to start external reporting on this setup from the financial year that starts January 1, 2027.
BP CEO O’Neill said in the company’s statement the new two-segment approach “will reduce complexity and strengthen execution.” He said BP is aiming for “a simpler, stronger and more valuable bp.” Reuters reported the overhaul aligns BP more with integrated oil and gas peers. Upstream will cover exploration, development and production. Downstream will take in refining, terminals, pipelines, mobility, convenience, biofuels, aviation, hydrogen and Castrol. Energy-Pedia
RBC Capital stuck with an “Outperform” on BP, keeping its 700p price target, a June 11 dpa-AFX report on wallstreet:online said. Analyst Biraj Borkhataria said after meeting with BP North America CFO Kate Thomson that RBC still sees BP shares beating peers. Wallstreet Online
BP’s NYSE-traded ADR last traded at $42.68, off 0.63% from its previous close. Premarket saw it at $42.00, down 1.59%, per Investing.com. The price action kept attention on the same topic as in London: if oil’s move is just a blip on the latest diplomacy news or a sign of something bigger for energy shares.
