# BP expects to have booked an "exceptional" oil trading result for the first quarter of 2026.

*business · news · 2026-04-14 · OilPrice*

## Key points

- BP expects an exceptional oil trading result for Q1 2026 due to Middle East volatility.
- BP's Q1 2026 trading profits will be much stronger than its weak Q4 2025 results.
- BP warns that market volatility is increasing the gap between marker and realized prices.
- Stronger refining margins could boost BP's Q1 earnings by up to $200 million.

**Companies:** BP, Shell
**Countries:** United Kingdom

[Read the full story on OilPrice](https://oilprice.com/Latest-Energy-News/World-News/BP-Flags-Exceptional-Oil-Trading-Profit-as-Middle-East-War-Drives-Q1-Volatility.html)

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