To The Moon

I've been procrastinating for months to acquire a stake in $BP PLC(BP)$, as the oil major benefits from high crude oil prices and as it is revamping itself to renewable energy. I had held back after Russia's special military operation in Ukraine, as I'm afraid that BP assets in Russia may be nationalized or the company may be forced to liquidate its stakes and partnership in Russia on the cheap.

I was not rewarded for the wait, as the subsequent energy crisis from the sanctions against Russian oil and Russia's retaliation by weaponizing its energy had lifted BP share price.

However, it seems like the boat is now returning as a plummeting British pound has depressed the share price of BP traded in the London Stock Exchange in SGD equivalence. Conversely BP shares traded in NYSE looks expensive in SGD equivalence given the strong USD.

Nevertheless, the tide appears to be reversing, as market fears of an impending recession as a determined Fed deploys all available tools to rein in the decades-high inflation at all costs and a hefty tax cut plan by the UK government that threatens to worsen a surging inflation have sent investors rushing for exits on flights to safety from risky assets.

I'll be closely watching the crude oil and energy prices, before making an investment decision. An alternative may be an investment into $Energy Select Sector SPDR Fund(XLE)$, which is an exchange-traded fund in the energy sector that counts not only $Exxon Mobil(XOM)$and BP among its major holdings, but also $Chevron(CVX)$and $Occidental(OXY)$which legendary investor Warren Buffett's BRK has accumulated sizable stakes.

@TigerEvents@TigerStars@TigerWire@MillionaireTiger