BP hails ‘exceptional’ trading as oil prices soar in Iran war

Citi analysts upgrade profit forecast by 20% to $2.6bn for January to March despite flat oil and gas production

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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.