Profit after tax jumped to $3.91 billion (€3.38bn) in the April-June period from $1.62 billion (€1.40bn) in the second quarter of 2025, BP said in an earnings statement, as fossil fuel prices soared year on year. The five biggest Western energy majors – BP, Chevron, ExxonMobil, Shell and TotalEnergies – reported combined net profits of almost $47 billion (€40.60bn) in the second quarter as earnings multiplied amid the US-Iran conflict. Energy majors around the globe are enjoying soaring profits from their trading operations as oil and gas futures swing between sharp gains and losses on the latest headlines linked to the Middle East conflict. BP's total revenue increased 47% to $70 billion (€60.43bn) in the second quarter from a year earlier as the conflict disrupted global supplies of fossil fuels. The group added that a core profit measure, which strips out certain items, more than doubled to $5.7 billion (€4.92bn) in the quarter, outperforming expectations.