Oil major BP beats profit expectations as Iran war boosts fuel prices

The BP refinery in Lingen, Germany (aerial view with a drone). Picture Alliance | Picture Alliance | Getty Images British energy major BP on Tuesday reported stronger-than-expected first-quarter profit, following a surge in oil and gas prices driven by the Middle East conflict. The oil giant posted underlying replacement cost profit, used as a proxy for net profit, of $3.2 billion for the first three months of the year. …