BP's profit more than doubled in the first quarter as the war in Iran continues and the average price for gasoline hit a new high for the year in the U.S. The oil and gas industry has been in upheaval since the start of the Iran war in February.

BP's first-quarter profit more than doubled year-on-year to $3.2 billion - its highest in two-and-a-half years - the British oil major reported on Tuesday, beating expectations after the Iran war helped boost oil trading results.

BP’s quarterly earnings more than doubled as its oil traders capitalized on market volatility triggered by the conflict in the Middle East. Tuesday’s first-quarter results are the company’s first since the Iran war upended global energy markets and sent oil-and-gas prices soaring.

BP's profits for the first three months of the year have more than doubled following a surge in oil prices since the beginning of the Iran war. In its first results since the conflict broke out, the energy giant reported profits of $3.

BP's first-quarter profit more than doubled year-on-year to $3.2 billion - its highest since 2023 - the British oil ‌major reported on Tuesday, beating expectations by 20% after the Iran war boosted its oil trading results.

Quarterly earnings more than doubled as BP’s traders capitalized on market volatility triggered by the conflict in the Middle East.

BP on Tuesday reported stronger-than-expected first-quarter earnings, citing "exceptional" oil trading contributions. The results come as energy supermajors experience a significant share price boost,

BP's profits have more than doubled in the last three months as the Iran war continues to keep the cost of crude high. The oil firm calculated its profit had surged by over 130% to a better-than-expected $3.