BP is trading at $48.62, up 4.06%, as Middle East tensions lift oil prices and raise concerns about supply disruptions.

  • The broader energy sector is also higher, with XLE up 2.02%.
  • BPā€™s October 13 trading update expects significantly higher gas trading and improved refining margins, alongside $3ā€“$4.5 billion in impairments. The update offers mixed company news; the sector-wide oil rally is the clearest context for the move.