BP Profit More Than Doubles as War-Driven Oil Trading Surges

BP (NYSE: BP) more than doubled its profit for the first quarter from a year earlier as oil prices jumped and oil trading boomed amid the war in the Middle East in the latter part of the quarter. BP, the first of the supermajors to announce first-quarter results this earnings season, on Tuesday reported an underlying replacement cost profit – the metric closest to net profit – of $3.2 billion, more than double compared to the $1.4 billion income for the same period last year, and beating by a mile the analyst consensus…