BP’s profit more than doubled in the first quarter as the war in Iran continues and the average price for gasoline hit a new high for the year in the U.S. BP earned $3.84 billion, or $1.47 per share,

The British oil major reported quarterly profits of $3.2 billion as traders capitalized on volatility triggered by the conflict.

BP's profits for the first three months of the year have more than doubled following a surge in oil prices since the beginning of the Iran war. In its first results since the conflict broke out, the energy giant reported profits of $3.

BP's profits have more than doubled in the last three months as the Iran war continues to keep the cost of crude high. The oil firm calculated its profit had surged by over 130% to a better-than-expected $3.

BP on Tuesday reported stronger-than-expected first-quarter earnings, citing "exceptional" oil trading contributions. The results come as energy supermajors experience a significant share price boost,

BP has come under fire after profits more than doubled in the first three months of the year, driven by soaring crude oil prices linked to the Iran war. The company reported underlying replacement cost profits of 3.

BP has come under fire after revealing profits more than doubled in the first three months of the year thanks to the soaring cost of crude caused by the Iran war.The FTSE 100 firm revealed its preferred profit measure – underlying replacement cost profit – surged by over 130% to a better-than-expected 3.