# Brent crude reached close to 120 dollars a barrel at one stage and is still above the 100 dollars level.

*business · news · 2026-04-24 · LBC*

## Key points

- BP expects an 'exceptional' first quarter trading result due to oil surges from the Iran conflict.
- Every $1 change in oil price affects BP’s pre-tax operating profits by $340 million.
- BP's net debt is projected to rise to $25–27 billion, up from $22.2 billion last quarter.
- Shareholders revolted against BP's board over climate transparency and rejected online-only meetings.
- BP is shifting back to core oil and gas after failed renewable efforts and takeover threats.

**Companies:** BP
**Countries:** United States, Israel, Iran

[Read the full story on LBC](https://www.lbc.co.uk/article/2c37fd79721c4a8487a8ed7b627063a0-5HjdYFK_2/)

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