Citi analysts upgrade profit forecast by 20% to $2.6bn for January to March despite flat oil and gas production
Business live – latest updates
BP expects to post “exceptional” earnings from its oil trading desk, reaping a windfall from choppy energy markets triggered by the US-Israeli war on Iran.
Energy traders are navigating significant market volatility after Tehran’s effective closure of the key strait of Hormuz shipping route.
BP said on Tuesday that its refining margins had strengthened and that the “oil trading result is expected to be exceptional” in the first quarter of its financial year.
