BP flags 'exceptional' oil trading thanks to higher oil prices, but higher costs

BP said its first-quarter results will be influenced by volatile commodity markets, with stronger trading and refining margins partly offset by higher costs. The update points to mixed operating conditions rather than a clear earnings beat or miss. The announcement is modestly relevant for BP shares but is unlikely to drive a broad market move.

Analysis

BP said its first-quarter results will be influenced by volatile commodity markets, with stronger trading and refining margins partly offset by higher costs. The update points to mixed operating conditions rather than a clear earnings beat or miss. The announcement is modestly relevant for BP shares but is unlikely to drive a broad market move.