BP reports ‘horrifying’ jump in profits as Iran war boosts oil trading; Brent crude hits three-week high – business live

Energy companies are profiting from Iran war, campaigners warn, after BP’s profits double in first quarter of 2026 BP profits more than double as oil and gas prices soar in Iran war Although rising energy prices are great news for oil and gas producers, they’re a blow to other businesses, such as housebuilders. This morning, Taylor Wimpey has reported that the cost of building a home is being pushed up, telling shareholders: As a result of rising energy costs, build cost inflation is now ex...

By Graeme Wearden