BP Profit Hits 18-Year High as Oil Refining Margins Surge

BP Plc reported its highest profit in 18 years, driven by a significant surge in oil refining margins. This financial boost provides Chief Executive Officer Meg O’Neill with a powerful tailwind as she works to turn around the British energy major. The jump in earnings comes amid a broader market context where some investors are seeking refuge in the FTSE 100 to avoid concerns surrounding AI tech, while BP benefits from strong operational margins.