BP Sees Further Oil-Trading Gains as Iran Conflict Fuels Volatility
By Adria Calatayud
BP said it expects further gains from oil trading but lower upstream production in the second quarter than in the first, as the U.K. energy major continues to navigate turmoil in energy markets due to the Iran conflict.
The company said Tuesday that it expects a slightly higher oil-trading result in the second quarter compared with the January-March period, when it flagged an exceptional performance.
Quarterly reported upstream production is expected to range from 2.17 million to 2.22 million barrels of oil equivalent a day compared with 2.34 million barrels of oil equivalent a day in the first quarter, it added. BP attributed the decline to seasonal maintenance and the effects of disruption in the Middle East.
The update points to gains at BP from a strong performance in oil trading for the second quarter in a row, just before renewed fighting in the Middle East caused a fresh bout of volatility in energy markets.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
July 14, 2026 02:39 ET (06:39 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
5 Stocks to Sell for Tax-Loss Harvesting
33 Undervalued Stocks to Buy Before the Market Shifts Again
Ask the Analyst: What Is the Best Source for Low-Risk Tax-Free Income?
What’s Ahead for Stocks This Quarter—and Where to Invest
United States