BP Stock Jumps Over 3% Premarket: US-Iran War Drives Best Quarter In Years

• The oil supermajor said that its reported profit for the quarter was $3.8 billion, compared with a loss of $3.4 billion for the fourth quarter of 2025.
• The quarter marks the first set of results under new CEO Meg O'Neill, who is the company’s fourth leader in six years.
• BP said it expects lower upstream production in Q2 due to seasonal maintenance and disruptions in the Middle East.

British oil major BP Plc (BP) saw its shares rise by over 3.5% in Tuesday’s premarket trade after the company reported that its first-quarter (Q1) profit more than doubled amid a surge in global oil and gas prices.  

BP said its underlying replacement-cost profit, which it uses as a proxy for net profit, came in at $3.2 billion for the quarter, compared with $1.5 billion for the previous quarter.

The quarter also marks the first set of results under new CEO Meg O'Neill, who is the company’s fourth leader in six years. “Overall, our business continues to run well. This was another quarter of strong operational and financial delivery, and we made further progress towards our 2027 targets,” O’Neill said in a statement.

BP Benefits From Oil Surge

The U.S. and Israel’s war with Iran, which has entered its ninth week, has led to a sharp surge in global oil prices as the critical Strait of Hormuz remains choked amid the conflict.

Brent crude futures expiring in June are currently trading at over $111 a barrel at the time of writing, compared with around $72.5 before the war started.

BP has also emerged as the best-performing stock among the top oil supermajors, surging more than 18% since the start of the U.S.-Iran war.

BP Earnings Snapshot

The oil supermajor said that its reported profit for the quarter was $3.8 billion, compared with a loss of $3.4 billion for the fourth quarter of 2025.

Meanwhile, the company’s net debt was $25.3 billion at the end of the quarter, up from $22.18 billion as of Dec. 2025. However, BP said that it aims to bring this down to between $14 billion and $18 billion by the end of 2027.

BP said it expects lower upstream production in Q2 due to seasonal maintenance and disruptions in the Middle East, while also noting that higher customer volumes may be offset by weaker midstream results. The company also said that its 2026 capital expenditure would be between $13 billion and $13.5 billion.

Retail Stance

On Stocktwits, retail sentiment around BP stock stayed in the ‘bearish’ territory at the time of writing, amid ‘low’ message volumes.

BP stock has gained more than 57% in the last year.

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