BP reported its second-quarter underlying replacement cost profit, a proxy for net profit, reached $5.7 billion for the April to June period. This figure significantly surpassed analyst expectations of $5 billion and more than doubled the $2.35 billion net profit from the same period last year, as well as the $3.2 billion from Q1 2026. The strong performance comes as energy supermajors benefit from higher fossil fuel prices, set against a backdrop of hostilities between the U.S. and Iran. Concurrently, Trump criticized large oil companies for 'making too much money'.