WALL STREET STOCKS/U.S. OIL COMPANIES
British Petroleum Co PLC's
announcement that its U.S. subsidiary intends to tender for the
45 pct of Standard Oil Co <SRD> it does not already own,
catapulted U.S. oil stocks sharply higher this morning, traders
and analysts said.
    "It raises the specter of additional consolidation in the
industry and that is what is boosting the other oils," analyst
Rosario Ilacqua of L.F. Rothschild said.
    Sanford Margoshes of Shearson Lehman Brothers said "this
deal shows that British Petroleum, a conservative investor that
knows the oil business, is clearly confident in the U.S. oil
industry, and that shines well on the U.S. companies."
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