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The Guardian - UK
The Guardian - UK
Business
Jillian Ambrose

BP profits more than double as oil prices soar in Iran war

British Petroleum Oil Iran Gas Prices Simon Francis
BP petrol station sign showing diesel at over £2 per litre
The cost of petrol and diesel has jumped amid rises in oil prices prompted by the Iran war. Photograph: Henry Nicholls/AFP/Getty Images

BP has provoked outrage by revealing its profits more than doubled in the first quarter of this year after its oil traders reaped the benefit of the war in Iran.

The energy company capitalised on a surge in global oil market prices to report better than expected profits of $3.2bn (£2.4bn) for the first quarter, more than double the $1.38bn it made in the same period last year.

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