DVN, EGO, GLP, MUSA and BP have been added to the Zacks Rank #1 (Strong Buy) List on April 29th, 2026.
BP, DVN and GLP made it to the Zacks Rank #1 (Strong Buy) value stocks list on April 29th, 2026.
BP beats Q1 EPS estimates as refining margins and an exceptional oil trading haul lift profit despite softer price realizations.
Goldman Sachs raised its Q4 2026 Brent crude forecast to $90 per barrel on April 27, 2026, up from a prior $80 forecast, citing extreme inventory draws from the prolonged closure of the Strait of Hormuz tied to the ongoing US-Iran conflict.
Energy companies are profiting from Iran war, campaigners warn, after BP's profits double in first quarter of 2026
The UK's benchmark FTSE 100 index edged higher on Tuesday, supported by a strong rally in energy stocks after BP reported better-than-expected first-quarter earnings. The gains put the index on track to end a six-day losing streak, even as geopolitical tensions continued to weigh on sentiment.
British energy giant BP saw its first-quarter profits more than double from the previous year, the company reported on Tuesday, citing the sharp increase in oil and gas prices fueled by the ongoing Middle East conflict. The oil giant reported a robust financial performance for the first quarter, posting an underlying replacement cost profit a metric analogous to net profit, of $3.2 billion.
BP PLC (LSE:BP.) returned to profit in the first quarter, helped by stronger trading and refining as oil prices surged and then fluctuated wildly in the aftermath of the Iran war.
Quarterly earnings more than doubled as BP's traders capitalized on market volatility triggered by the conflict in the Middle East.
The oil and gas producing giant BP has recorded a more than doubling of profits as it benefits from high prices from the Iran war.
BP on Tuesday posted a first-quarter underlying replacement cost profit, its version of net income, of $3.2 billion, compared with expectations of $2.67 billion in a company-provided poll of analysts and $1.38 billion a year ago.
The results come shortly after BP's board suffered a shareholder revolt at its annual general meeting.