London, Feb 17, 2026, 09:04 GMT — Regular session
BP PLC (BP.L) edged up 0.4% to 467.75 pence by 0848 GMT on Tuesday, trading early in London. Shares moved in a range from 463.95p to 468.95p, with volume at roughly 1.8 million. (Share Prices)
That slight change belies the back-and-forth tugging on oil majors lately—geopolitical headlines rippling through crude, payout strategies getting picked over. BP’s cash flow typically mirrors moves in oil, and the shares get marked up or down fast when expectations for returns move.
BP is still digesting the fallout after last week’s move to halt share buybacks and channel more cash into debt reduction. The oil major reported roughly $4 billion in charges tied to renewables and biogas. Net debt? Down to around $22 billion from $26 billion last quarter. The $14 billion to $18 billion net debt target for 2027 stands. Finance chief Kate Thomson told investors a buyback update could come once BP hits that goal — but crossing the line doesn’t guarantee buybacks will pick up again. (Reuters)
Oil prices went in different directions Tuesday, with traders eyeing developments from the U.S.-Iran talks in Geneva and weighing potential supply threats after Iranian naval exercises near the Strait of Hormuz. Brent crude slipped 0.86% to $68.06 a barrel by 0738 GMT, while U.S. WTI edged up 0.51% to $63.21; many Asian markets remained closed for Lunar New Year. “Market sentiment is closely tied to the tone and progress of these negotiations,” said Sugandha Sachdeva, founder of SS WealthStreet. (Reuters)
Citi, just a day ago, flagged geopolitics as a short-term prop for oil, but the bank sees Brent dropping to $60-$62 a barrel if tensions tied to Russia-Ukraine and Iran cool off by summer. OPEC+ is set to move toward fresh output hikes starting in April, according to Citi. Brent ended Monday up 1.33% at $68.65. (Reuters)
For BP, swings like this aren’t just background static. Cheaper crude often translates to less money on hand for cutting down debt fast, and it tightens the space for any payouts to shareholders — with buybacks already ruled out, that squeeze gets sharper.
One more hitch: Should diplomacy outperform market assumptions, the built-in “risk premium” on oil prices could vanish quickly. That leaves integrated oil stocks exposed—even if their fundamentals stay put for now.
BP shareholders are eyeing a key date, with the stock set to go ex-dividend for ordinary shares on Feb. 19—anyone buying after misses the next payout. The company’s interim dividend, 8.320 cents per ordinary share, lands March 27 for those on the register as of Feb. 20. BP plans to release the sterling payout figure on March 17. (RNS PDF)
Markets will keep an eye on Geneva headlines Tuesday, looking for signals around oil supply risks. BP’s ex-dividend date lands later in the week. Then crude’s in the spotlight again, with investors focused on whether prices hold at levels that keep debt shrinking.
