Investors prepare for earnings updates from BP and Shell
BP and Shell hope to reassure investors this week by announcing billions of pounds in losses.
Both oil giants will announce trading updates for April through June.
BP shares have fallen more than 15 percent since their peak in April.
Earlier this month, the company announced it had made losses of between £781 million and £1.6 billion due to problematic contracts.
The company hopes the bad news is now behind it and that investors can focus on the more positive aspects of the update on Tuesday.
Reassurance: BP and Shell to share trading updates for April through June
Competitor Shell will also give shareholders insight into its performance on Thursday.
The company has already reported a loss of £1.6 billion due to the suspension of construction of a Dutch biofuels plant and the sale of a refinery in Singapore.
Shares are down 1.4 percent over the past month.
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