BP flags exceptional oil trading gains in first quarter

Energy giant BP PLC announced on Tuesday that it anticipates its oil trading division will deliver exceptional results for the first quarter of 2026. The company indicated that the strong performance is largely driven by a significant surge in the price of Brent Crude Oil following the escalation of military conflict involving the United States and Israel against Iran. Despite the trading windfall, BP reported that its net debt is projected to increase. The figure is expected to reach between $25 billion and $27 billion, up from just over $22 billion in the preceding quarter. This rise is attributed to fluctuations in working capital, which serves as a measure of short-term liquidity based on the difference between current assets and liabilities.