"BP has stated that it expects an 'exceptional' performance from its oil trading division in the first quarter, driven by heightened volatility in global energy markets. The company has upgraded guidance for its trading arm after a weak end to 2025, citing sharp swings in crude, gas, and refined product prices due to the conflict involving Iran."
"Brent Crude prices have surged this year, nearing $120 a barrel and currently hovering around $100, amid fears of supply disruption and faltering diplomatic efforts. BP noted that Brent averaged $81.13 per barrel in the first quarter, up sharply from $63.73 in the previous three months, reflecting weeks of volatility linked to geopolitical tensions."
"Despite the trading boost, BP expects upstream production to remain broadly flat compared to the previous quarter, with slightly lower oil output. The company also warned that current market conditions are affecting not just trading performance but also working capital movements, with timing effects and price lags playing a growing role in financial results."
BP expects strong performance from its oil trading division in the first quarter, driven by increased volatility in global energy markets. The company upgraded its trading guidance following a weak end to 2025, citing significant price fluctuations in crude, gas, and refined products due to geopolitical tensions. Brent Crude prices have surged, averaging $81.13 per barrel in the first quarter. While trading profits are boosted, upstream production is expected to remain flat, and net debt is projected to rise, reflecting market dynamics and cash flow pressures.
Read at London Business News | Londonlovesbusiness.com
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