European Oil Giants Turn War-Time Volatility Into Trading Windfall
TL;DR Summary
European oil majors BP, Shell, and TotalEnergies reportedly earned up to $4.75 billion more in their Q1 2025 trading than in Q4 2025, buoyed by Iran-related market volatility and oil-price spikes. The gains helped European majors outperform U.S. rivals Chevron and ExxonMobil, with Shell posting strong earnings on trading, BP more than doubling its quarterly profit, and TotalEnergies lifting its interim dividend by 6% while earnings rose about 30% year over year.
- BP, Shell, TotalEnergies Pocket Billions in War-Driven Trading Windfall Crude Oil Prices Today | OilPrice.com
- Fuel, munitions and food: Trump’s Iran war rips across US economy Financial Times
- The Iran war will change global energy markets in these important ways, oil executives say CNBC
- Businesses are facing rising costs during the Iran war, and economists expect more strains ahead KXAN Austin
- Not all oil giants are prospering from the Iran war The Economist
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