BP profits jump as Middle East conflict drives up oil refining margins

Third-quarter underlying ​replacement ⁠cost profit rises to $8. 46bn, up from $2. 2bn ​a year ​ago BP has posted a jump in its quarterly profits as the war in the Middle East drove up oil and gas prices and led to “significantly higher” trading. The energy company said on ⁠Friday ⁠that third-quarter underlying ​replacement ⁠cost profit – a key measure of its income – rose to $8. 46bn, up from $2. 2bn ​a year ​ago. Analysts had expected profits of $7. 33bn.