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BP reports exceptional Q1 oil trading amid Iran war price surge, net debt rises to $25-27B

Market News
14 Apr 2026
CNBC
View Source
Bullish
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BP announced exceptional oil trading performance in Q1 2026, benefiting from a sharp rise in oil prices due to the Iran war. Brent crude averaged $81.13 per barrel in Q1, up from $63.73 in Q4 2025, driving strong trading gains. However, BP's net debt increased to $25-27 billion from $22.2 billion in Q4 2025, reflecting higher working capital needs amid volatile prices. BP's full Q1 results will be published on April 28, with the broader oil market closely watching ongoing geopolitical tensions and potential peace talks between the U.S. and Iran.

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