BP Flags Exceptional Oil Trading Gain as Energy Prices Soar

BP Plc said its oil trading performance was exceptional in the first quarter as the Iran war caused a surge in prices.

The conflict sent oil, gas and fuel prices soaring as shipping through the crucial Strait of Hormuz came to a near-halt and Iran targeted key energy infrastructure around the Persian Gulf in retaliation for US-Israeli attacks. Brent crude is up more than 60% this year.