Crude oil is quietly climbing higher: it was $85 mid-December and is now almost $97.
Whenever a sector or industry takes a beating — such as the energy sector — it’s good to sift through the rubble looking for a diamond in the rough.
BP (quote) is selling to mother Russia. Now there is a bigger global major oil company in state-owned Rosneft (RNFTF, quote) with major ties to Exxon Mobil (XOM, quote) via arctic circle joint ventures, and BP - two of the standard bearers in global oil/gas. This is ultimately a $55 billion deal, making it the third biggest deal in all history.