LONDON, Feb 25, 2026, 08:32 GMT — Regular session
- BP shares climbed early in London, with crude sticking close to its highest levels in months.
- Oil prices held steady, with traders on edge as U.S.-Iran negotiations in Geneva loomed for Thursday, Feb. 26.
- Official U.S. inventory numbers drop later Wednesday, with traders scanning for any signs about demand.
BP stock edged higher in early London hours Wednesday, lifted by stronger crude prices. By 0830 GMT, shares had gained 0.44% to 473.25 pence, trading in a range from 471.20 to 473.55 pence, according to LSE data. The previous close stood at 471.20 pence on Tuesday.
Crude prices hovered close to seven-month peaks, with investors wary of escalating U.S.-Iran tensions before Thursday’s Geneva talks. Brent edged up 0.6% to $71.19 a barrel as of 0730 GMT, and U.S. WTI matched the gain, rising to $66.04. ING strategists flagged that traders would “price in a large risk premium” to guard against possible supply shocks. Iran’s foreign minister Abbas Araqchi called a deal “within reach, but only if diplomacy is given priority.” IG’s Tony Sycamore cited the U.S. “zero enrichment red line” as a hurdle. Attention was also on U.S. Energy Information Administration inventory data due Wednesday, after the American Petroleum Institute posted an 11.43 million-barrel build last week. Reuters
Why does this matter? Oil’s been calling the shots across the sector—not just for BP. According to Reuters, European oil and gas shares surged to a record on Monday, now running about 17% higher for the year. That’s well ahead of the broader STOXX 600 index.
BP tracks Brent much like Shell and TotalEnergies. Its upstream profits and cash flow jump or sink as oil prices shift. When crude moves up, equity traders typically act fast—questions come after.
BP shares remain weighed down by fallout from earlier this month. The company halted its share buyback program and booked roughly $4 billion in writedowns tied to renewables and biogas, according to its Feb. 10 earnings. That hit sent the stock tumbling that day.
Right now, it’s simple: crude prices hover close to recent peaks, so energy stocks are catching renewed attention. Early BP trading showed just moderate volume—investors seem to be holding off for more news.
But here’s the catch: if U.S.-Iran tensions cool off, that geopolitical premium—the extra dollars tacked onto crude over supply concerns—could disappear fast. Oil-related stocks, BP included, may take a hit, regardless of any shift in the company’s daily operations.
Data poses its own risk. If U.S. crude inventories climb sharply again, oversupply fears could intensify, putting the rally’s underlying demand—or its reliance on geopolitical factors—to the test.
Next up: official U.S. inventory numbers hit later Wednesday, Feb. 25, with eyes then turning to Geneva on Thursday, Feb. 26. Crude moves are in focus—BP’s shares are expected to track the action.
