BP Flags Exceptional Oil Trading Profit as Middle East War Drives Q1 Volatility

BP expects to have booked an "exceptional" oil trading result for the first quarter of 2026, amid the extreme volatility in prices since the war in the Middle East began. The UK-based supermajor said on Tuesday in a trading statement that its exceptional oil trading result would compare with weak trading profits for the fourth quarter of 2025. BP and other supermajors don't disclose their trading profits but guide the market as to how strong or weak the trading results have been in a given quarter. BP, which is set to report full first-quarter…