# Underlying replacement cost profit more than doubled to $3.2 billion (€2.7bn) Brent crude prices rose from just above $70 per barrel in early February to over $120 in late March.

*fintech · news · 2026-04-28 · Euronews*

## Key points

- BP's Q1 2026 underlying replacement cost profit more than doubled to $3.2 billion.
- BP's oil trading profits surged due to exceptional volatility from the Iran war.
- Barclays booked a £228m charge related to the collapse of Market Financial Solutions.
- Barclays' investment bank income exceeded £4bn in a quarter for the first time.
- Barclays will scale back complex lending after loan losses linked to leveraged companies.

**Companies:** BP, Barclays
**Countries:** United Kingdom, Iran, Abu Dhabi, Oman, Iraq

[Read the full story on Euronews](https://www.euronews.com/business/2026/04/28/how-the-iran-war-boosted-profits-at-bp-and-barclays)

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