BP hails 'exceptional' boost from Iran war - as household set for soaring bills

BP hails 'exceptional' boost from Iran war - as household set for soaring billsAnalysts expect BP to post a jump in profits at the end of April after boost from soaring oil prices which have seen bills surge for ordinary households and firmsCommentsMoneyGraham Hiscott Business and Consumer Editor11:29, 14 Apr 2026Updated 11:29, 14 Apr 2026View 3 ImagesBP - whose operations include forecourts - is expected to post strong profits (Image: Maureen McLean/Shutterstock)Oil giant BP says its trading arm had an “exceptional” for three months of this year on the back of the Middle East conflict.The industry heavyweight has seen its stock market value surge to over £90billion since the war erupted at the end of February.Soaring oil prices have paved the way for bumper profits at producers, while households are reeling from the impact from pain at the pumps and the threat of higher energy and food bills.BP it oil trading arm had a particularly strong past three months, following a weak end to 2025.It was seeing “impacts associated with the ongoing situation in the Middle East and the current market conditions resulting in heightened volatility in crude oil, natural gas and refined products prices in the latter part of the first quarter.“These market conditions are expected to impact financial results, including trading results and working capital movements,” it added, pointing to an increased impact of so-called price lags.View 3 ImagesNorth Sea producers are among those expected to benefit from oil pricer surge (Image: POOL/AFP via Getty Images)Oil prices have surged higher since the US-Israel war on Iran started on February 28 and are now more than 60% up so far this year.Brent crude reached close to $120 a barrel at one stage and is still hovering around the $100 level as peace talks falter and amid fears over a looming global energy supply crisis.BP said Brent crude prices averaged $81.13 dollars a barrel over the first three months as a whole, which includes jus...