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Oil giant said the war and its impact on market conditions had resulted in ‘heightened volatility’ across the business.
BP expects 'exceptional' oil trading results in Q1 due to Middle East conflict volatility.
KEY POINTS
- Brent crude averaged $81.13 a barrel in Q1, up from $63.73 in Q4 2025.
- BP's refining margins increased, boosting refined products business results by $100–$200 million.
- BP anticipates net debt rising to $25–$27 billion, up from just over $22 billion last quarter.
- Shell expects significantly higher oil trading results but has cut gas production for Q1.
COMPANIES
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