BP is trading 4.1% up at $40.80 as investors rotate into energy stocks following a sharp jump in crude prices linked to escalating US–Iran conflict around the Strait of Hormuz.
- Brent crude prices rose approximately 4%, driving the broader Energy sector ETF up by more than 2%.
- The rally is further supported by recent investor optimism regarding BP's debt-first strategy and its renewed focus on core oil and gas operations.