AI summary
BP’s profits surged to $8.46 billion because Middle East conflict boosted oil prices, significantly increasing the company’s refining margins and trading income.
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BP profits jump as Middle East conflict drives up oil refining margins
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Third-quarter underlying replacement cost profit rises to $8.46bn, up from $2.2bn a year agoBP has posted a jump in its quarterly profits as the war in the Middle East drove up oil and gas prices and led to “significantly higher” trading.The energy company said on Friday that third-quarter underlying replacement cost profit – a key measure of its income – rose to $8.46bn, up from $2.2bn a year ago. Analysts had expected profits of $7.33bn. Continue reading...
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