BP

BP’s Third-Quarter Profit Nearly Quadruples to $8.5 Billion as Refining Margins Surge

BP reported a sharp jump in third-quarter profit to $8.5 billion, nearly quadrupling from a year earlier, as stronger refining margins and volatile energy markets lifted earnings well above expectations. The result underscores how geopolitical tensions and supply disruptions continue to reshape the global oil trade, rewarding major producers with robust downstream gains even as demand concerns linger.