BP, Shell, TotalEnergies Pocket Billions in War-Driven Trading Windfall
Crude Oil Prices Today | OilPrice.com • • general
Key Points:
- European oil majors BP, Shell, and TotalEnergies increased their trading profits by an estimated $3.3 billion to $4.75 billion in Q1 2026 compared to Q4 2025, driven by extreme market volatility from the Iran war.
- The spike in oil and gas prices amid the Middle East conflict led to exceptional trading profits for these European firms, helping to offset lost production in the region.
- Shell reported earnings that surpassed consensus expectations, attributing gains to higher liquid prices and increased trading activity during unprecedented market volatility.
- BP more than doubled its Q1 profit year-on-year due to booming oil trading and price surges, while TotalEnergies boosted its interim dividend by 6% after a 30% earnings increase.
- U.S. majors Chevron and ExxonMobil also beat analyst expectations, though their earnings were more affected by Middle Eastern production losses compared to their European counterparts.