London, Jan 11, 2026, 08:17 GMT — The market has closed.
- On Friday, BP shares ended the day 2.39% higher, closing at 425.6 pence.
- Oil prices jumped sharply, driven by concerns over supply disruptions linked to Iran and Venezuela.
- BP announced new share buybacks, shifting trader focus to its upcoming company update.
BP shares closed Friday 2.39% higher, at 425.6 pence. (MarketScreener)
This matters now as oil majors trade almost like a stand-in for the latest news out of the Middle East and Washington. For BP, even a few dollars’ change in crude prices can shift investor chatter around cash returns.
Timing is another key factor. January tends to be quiet, yet it often sets the tone for buybacks, dividend expectations, and whether strength upstream can outweigh the noise from refining and marketing.
Oil prices climbed Friday as traders grappled with supply risks from protests in Iran and ongoing uncertainty in Venezuela. Brent crude closed up 2.18% at $63.34 a barrel, while U.S. WTI rose 2.35% to finish at $59.12. Both contracts secured gains for the week. “The uprising in Iran is keeping the market on edge,” said Phil Flynn of Price Futures Group. Meanwhile, Ole Hansen from Saxo Bank highlighted growing disruption concerns, even though rising inventories and worries about oversupply might limit how far prices can advance. (Reuters)
Energy stocks led gains on the FTSE 100 in London Friday, pushing the index to a fresh record close. The sector jumped 2.8%, buoyed by a rise in crude prices, with BP and Shell each adding roughly 2.2%. (Reuters)
BP kept its share buyback active, reporting in a filing that it purchased 3,138,787 shares on Jan. 9. The shares traded between 421.15 pence and 426.90 pence, with a volume-weighted average price of roughly 424.66 pence on the London market. The company plans to transfer these shares into treasury stock, which will lower the total shares outstanding. (Investegate)
Despite Friday’s rebound, the stock remains far below its 52-week peak of £4.76, reached on Nov. 11, according to MarketWatch data. (MarketWatch)
No new BP-specific news surfaced over the weekend, so shares will probably follow oil prices once trading resumes. Traders remain focused on whether unrest in Iran will trigger real supply disruptions and how fast Venezuelan crude flows under any new U.S. deals.
That said, the setup works both ways. If the supply scare eases and crude prices retreat, BP could quickly fall behind the group, buybacks or no.
BP’s next key event is its fourth-quarter trading update on Jan. 14, with the full Q4 earnings report due Feb. 10, per MarketScreener’s calendar. Investors will seek early insights into output and margin trends ahead of the earnings call. (MarketScreener)
