BP share price set for volatile London open as oil jumps on Hormuz shutdown
Brent crude rose 3.3% to $84.07 as US-Israel-Iran tensions disrupted supply, putting BP in focus before Wednesday’s London open. Iraq has cut oil output by 1.5 million barrels per day and warned reductions could widen if exports remain blocked. BP shares closed up 1.1% Tuesday, outperforming the FTSE 100’s 2.8% drop. Investors traded a record 12.7 million energy contracts on ICE as price risk surged.