BP's Oil Bonanza A Tremendous Surge Post-Iran War

• BP announces significant trading gains due to increased oil prices following the outbreak of war.
• Net debt rises reflecting increased working capital needs in a volatile market environment.
• Global markets remain attentive to U.S.-Iran peace talks after the U.S. initiates a blockade.

Big Oil, Big Gains

Folks, let me tell you, BP, a great company – a really, really great company – is doing fantastically. They’re seeing tremendous, and I mean tremendous, gains because of the surge in oil prices. Some people are saying it's the best they've ever seen. It's all happening since the unfortunate war started in late February. And you know who’s doing a great job navigating this? BP. Smart people, very smart people.

Debt? We'll Handle It, Believe Me

Now, some people are saying their net debt is up a bit. They're saying it's around $25-27 billion, from $22.2 billion. That's what they're saying. But honestly, folks, these are investments. We need working capital, especially with these ups and downs in the market. It's like building a great, beautiful wall – you need to spend some money to protect what's yours. And, you know, we'll handle it. We always do. Just like I handled China on trade; the best trade deal ever. Speaking of trade, some states are still challenging tactics, but we know what we are doing. It’s a dance, a Trump Tariff Tango States Challenge Trade Tactics Again and we are leading.

The Trump Effect on Oil

You know, it's amazing, since I've been involved, even indirectly, the world is watching. Oil’s up because people are looking for strong leadership. They see what I'm doing, how I'm handling things. Brent crude averaged $81.13 per barrel in the first quarter of 2026, compared to just $63.73 in the fourth quarter of 2025. These are tremendous numbers. Big, beautiful numbers. Everyone's talking about them.

Peace? They Want a Deal!

Iran? They want a deal so badly. Believe me. We're talking, maybe. My people, very smart people, are talking. VP Vance is doing a great job. These things take time, but everyone knows, they need a deal. They need to come to the table and make a fair deal. A very fair deal. For everyone, but mostly for us.

The Strait of Hormuz: Blockade for Safety

We started a blockade of the Strait of Hormuz. Some people are saying it's a tough move. It is a tough move, but it's a necessary move. We're protecting the world, ensuring stability. It's like building a fence, folks. You build a fence to keep the bad guys out. It's very simple.

Both, and More

Someone asked me, very nasty question they asked, if the goal of the blockade was to force Iran to reopen the Strait of Hormuz or come to the negotiating table. And I said, 'Both of those things, certainly, and more.' Always thinking ahead, folks. It's what I do.