{
  "id": 134477,
  "title": "BP profits more than double as Iran war sends oil prices soaring",
  "url": "https://urgent.news/2026/08/04/bp-profits-more-than-double-as-iran-war-sends-oil-prices-soaring",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-04T06:54:30.000Z",
  "source": {
    "name": "Guardian Business",
    "slug": "guardian-business",
    "url": "https://www.theguardian.com/business/2026/aug/04/bp-profits-iran-war-oil-prices-shell"
  },
  "original_language": "en",
  "account": null,
  "summary": "BP's quarterly profits have more than doubled to $5.73bn, according to the Guardian Business. This increase is attributed to rising oil and gas prices caused by the ongoing conflict in the Middle East, which has disrupted energy exports from the Gulf.\n\nThe National UAE reports that six of the world's biggest oil companies, including BP, posted a combined $79.4 billion in second-quarter net income. Brent crude averaged about $104 a barrel, up more than 50 per cent year-on-year. The Iran war sent prices higher while disrupting flows through the Strait of Hormuz.\n\nBP's profits are also reported by Associated Press to have more than doubled to $3.9 billion in the second quarter. The company based in London, along with other big oil companies, has seen massive profits as fighting in Iran disrupts energy markets and sends oil and gasoline prices sharply higher. Other major oil companies, including ExxonMobil and Saudi Aramco, have also reported significant profits, with ExxonMobil's net income more than doubling to $14.5 billion.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Al Jazeera",
        "title": "Why are oil companies posting record profits amid Iran war disruption?",
        "url": "https://urgent.news/2026/08/04/why-are-oil-companies-posting-record-profits-amid-iran-war-disruption",
        "published": "2026-08-04T14:04:28.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}