BP profits more than double as Iran war sends oil prices higher
In its first results since the conflict broke out, the energy giant reported profits of $3.2bn (£2.4bn) between January and March after an "exceptional" performance in its oil trading business. Kenya breaking news | Kenya news today |..
✨ Key Highlights
BP's profits more than doubled in the first quarter of the year, reaching $3.2bn, largely driven by a surge in oil prices following the conflict with Iran.
- Profits from January to March were $3.2bn, a significant increase from $1.38bn in the same period last year.
- The energy giant's oil trading business reported an "exceptional" performance, with its customers and products division surging to $2.5bn.
- The conflict in the Middle East has led to a spike in oil prices, with Brent crude trading around $110 a barrel.
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BP Profits More Than Double as Iran War Sends Oil Prices Higher - April 2026
BP's profits more than doubled in the first quarter of the year, reaching $3.2bn, largely driven by a surge in oil prices following the conflict with Iran. In contrast, the accessories chain Claire's has closed all 154 standalone stores in the UK and Ireland, resulting in over 1,300 job losses. Global military spending reached a record 2.89 trillion U.S. dollars in 2025, marking the eleventh consecutive year of growth, according to a report by the Stockholm International Peace Research Institute.
