BP profit more than doubles on 'exceptional' oil trading
CNN
BP took a hit of more than $24 billion from ditching its business in Russia but reported a huge jump in profit for the first quarter.
The UK-based energy giant said Tuesday that its underlying profit soared to $6.2 billion from $2.6 billion in the same period last year, boosted by "exceptional oil and gas trading" conditions.
Oil prices have shot up by nearly 40% since the start of 2022, with benchmark Brent crude trading well above $100 a barrel. Prices for natural gas have also surged. The gains have been driven by fears of a global supply shock following Russia's invasion of Ukraine.
President Joe Biden asserted Friday that Hamas has been degraded to a point where it can no longer carry out the type of attack that launched the current 8-month conflict in Gaza, laying out a three-phase proposal Israel has submitted to wind down the grinding crisis as he declared, “It’s time for this war to end.