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BP, Shell, TotalEnergies Pocket Billions in War-Driven Trading Windfall

Analysts said the surge offset lost Middle East production and helped BP more than double first-quarter profit.

Summary by Oil Price
The European oil majors with the biggest trading desks raised their trading profits by up to $4.75 billion in the first quarter from the end of last year, amid extreme market volatility driven by the war in Iran. The biggest European majors, BP, Shell, and TotalEnergies, likely earned between $3.3 billion and $4.75 billion more in the first quarter compared to the fourth quarter of 2025, the Financial Times reports, citing estimates from analyst…

6 Articles

Many oil producers have billions of dollars in profits, but the supply crisis also has disadvantages for them. Investors remain cautious.

·Zürich, Switzerland
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Alain Guillot broke the news on Sunday, May 10, 2026.
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