How the Iran war boosted profits at BP and Barclays

EuroNews · 🇫🇷 public France · Apr 28, 2026 · 551 words · By Doloresz Katanich

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What to know about How the Iran war boosted profits at BP and Barclays

Barclays' profits rose, but loan losses weighed on its first-quarter results.

Claims checked 16

Techniques found 0

Topics 0

Coverage spectrum

Coverage gap: Low Left coverage

Left0%

Center100%

Right0%

7 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

Barclays' profits rose, but loan losses weighed on its first-quarter results.

Why it matters

At the same time, oil giant BP’s earnings jumped, largely driven by an exceptional oil trading boom linked to the Iran war.

Common ground

British multinational oil and gas company BP’s first-quarter results were boosted by sharp swings in oil prices during the Iran war, which began on 28 February 2026.

Perspective signals

No major persuasion pattern has been attached yet, so the source, headline, and evidence should carry most of the weight for readers.

Follow-up questions

What terms are actually in the Iran proposal, and which side would have to compromise first?
What evidence would most clearly confirm or weaken the claim that approximately 411,000 barrels of oil equivalent per day of upstream production in the region [Middle East]. This includes operations in Abu Dhabi, Oman and Iraq?
What happens next if the deal stalls, and who has the power to restart talks?

open_in_new Read the original article: https://www.euronews.com/business/2026/04/28/how-the-iran-war-boosted-profits-at…

fact_checkClaims Checked

eFinder analyzed this article and checked 16 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

schedule Pending 6

info Single Source 5

check_circle Corroborated 3

verified Verified By Reference 1

help Insufficient Evidence 1

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Claim 1: “approximately 411,000 barrels of oil equivalent per day of upstream production in the region [Middle East]. This includes operations in Abu Dhabi, Oman and Iraq.”

SINGLE SOURCE

The specific figure of 411,000 barrels of oil equivalent per day in the Middle East (Abu Dhabi, Oman, Iraq) is reported by Euronews, but not corroborated by other sources in the evidence set.

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wikipedia NEUTRAL — The Abu Dhabi National Oil Company (Arabic: شركة بترول أبو ظبي الوطنية), known by its acronym ADNOC, is the state-owned oil company of Abu Dhabi, United Arab Emirates. It is the world's 12th largest o…
https://en.wikipedia.org/wiki/Abu_Dhabi_National_Oil_Company

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wikipedia NEUTRAL — Abu Dhabi is the capital city of the United Arab Emirates (UAE). The city is the seat of the Abu Dhabi Central Capital District, the capital city of the Emirate of Abu Dhabi, and the UAE's second-most…
https://en.wikipedia.org/wiki/Abu_Dhabi

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wikipedia NEUTRAL — The Abu Dhabi National Energy Company, PJSC (TAQA) is a government controlled energy holding company of Abu Dhabi, United Arab Emirates. The company currently operates in 11 countries across four cont…
https://en.wikipedia.org/wiki/TAQA

+ 3 more evidence sources

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Claim 2: “Income there [investment bank] exceeded £4bn (€4.6bn) for the first time in a quarter”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

schedule

Claim 3: “Barclays booked a £228m (€264m) charge linked to the collapse of UK mortgage lender Market Financial Solutions (MFS).”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 4: “BP’s share price was up by more than 2% in afternoon trading in Europe.”

SINGLE SOURCE

The provided search results discuss general stock indexes or historical BP share drops (e.g., Hurricane Barry), but do not provide the specific 2% increase for the afternoon of the Q1 2026 report.

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web search NEUTRAL — BP blamed its falling profits on weaker global oil prices, a string of one-off financial hits due to the falling value of its assets, and the impact of Hurricane Barry.Shares in BP were down 4.6% at 4…
https://www.theguardian.com/business/2019/oct/29/bp-profits-…

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web search NEUTRAL — Shares of Saudi state oil giant Aramco traded below their original IPO price for the first time Sunday and were down 6.36% on the day. Saudi Arabia's stock exchange, the Tadawul, was down 7.7% in afte…
https://www.cnbc.com/2020/03/08/saudi-aramco-shares-fall-bel…

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web search NEUTRAL — This page provides stock market indexes quotes for several countries including the latest price, yesterday session close, plus weekly, monthly and yearly percentage changes.
https://tradingeconomics.com/stocks

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Claim 5: “Total income rose 6% to £8.2bn (€9.5bn), while profit before tax increased to £2.8bn (€3.2bn), up from £2.7bn (€3.1bn) a year earlier.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

schedule

Claim 6: “growth of 16% year on year, or 23% in US dollar terms, alongside a 17% rise in investment banking fees.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

verified

Claim 7: “the Iran war, which began on 28 February 2026.”

VERIFIED BY REFERENCE

The start date of February 28, 2026, for the Iran war is explicitly confirmed by Wikipedia and multiple independent news sources (Al Jazeera, Deutsche Welle, The Hindu).

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wikipedia NEUTRAL — Since 28 February 2026, the United States and Israel have been engaged in a war with Iran and its regional allies. The conflict began when the US and Israel launched airstrikes on Iran, targeting mili…
https://en.wikipedia.org/wiki/2026_Iran_war

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wikipedia NEUTRAL — Iran, officially the Islamic Republic of Iran, also known as Persia, is a country in West Asia. It borders Iraq to the west, Turkey, Azerbaijan, and Armenia to the northwest, the Caspian Sea to the no…
https://en.wikipedia.org/wiki/Iran

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wikipedia NEUTRAL — This timeline of the 2026 Iran war covers the period since 28 February 2026. The war is ongoing.
https://en.wikipedia.org/wiki/Timeline_of_the_2026_Iran_war

+ 5 more evidence sources

info

Claim 8: “upstream production resilient at around 2.3 million barrels of oil equivalent per day.”

SINGLE SOURCE

The provided evidence for this claim consists of generic Wikipedia entries on blood pressure and a general BP corporate page, but does not contain the specific production figure of 2.3 million barrels per day.

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web search NEUTRAL — Blood pressure (BP) is the pressure of circulating blood against the walls of blood vessels. Most of this pressure results from the heart pumping blood through the circulatory system. When used withou…
https://en.m.wikipedia.org/wiki/Blood_pressure

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web search NEUTRAL — Growing bp's upstream 10 major projects in three years. Learn more about our oil and gas business’s plans to help meet rising energy demand and grow long-term shareholder value A more resilient portfo…
https://www.bp.com/

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web search NEUTRAL — Aug 14, 2025 · Use our blood pressure chart to learn what your blood pressure numbers mean. Systolic, diastolic? The American Heart Association helps you understand the various levels of blood pressur…
https://www.heart.org/en/health-topics/high-blood-pressure/u…

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Claim 9: “underlying replacement cost profit more than doubled to $3.2 billion (€2.7bn) in the first three months of 2026.”

CORROBORATED

BP's Q1 2026 underlying replacement cost profit of $3.2 billion is confirmed by the official BP investor site and multiple financial news reports.

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wikipedia NEUTRAL — The 2026 SA20 season was the fourth season of the SA20, a franchise Twenty20 cricket league in South Africa. The competition, organised by Cricket South Africa, featured six teams. The tournament took…
https://en.wikipedia.org/wiki/2026_SA20

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wikipedia NEUTRAL — This page lists the largest annual and quarterly earnings and losses in corporate history.
https://en.wikipedia.org/wiki/List_of_largest_corporate_prof…

+ 3 more evidence sources

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Claim 10: “Barclays also announced a £500m (€580m) share buyback, bringing total buybacks this year to £1.5bn (€1.74bn).”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

info

Claim 11: “Underlying RC profit for the quarter was $3.2 billion, compared with $1.5 billion for the previous quarter”

SINGLE SOURCE

While the $3.2 billion figure for Q1 2026 is corroborated, the specific comparison to $1.5 billion for the previous quarter is not explicitly confirmed by the other provided sources; only finwire.io mentions it 'more than doubled the prior quarter'.

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web search NEUTRAL — Underlying net loss was $117 million compared to underlying net loss of $94 million in the prior year, reflecting higher financing costs supporting the acquisition of our remaining interests in SLC Ma…
https://www.sunlife.com/content/dam/sunlife/regional/global-…

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web search NEUTRAL — According to the Q2 2026 forecast, revenue is expected to reach N169.9 billion, compared to N202.2 billion recorded in the second quarter of 2025. After accounting for cost of sales of N145.5 billion,…
https://nairametrics.com/2026/03/07/totalenergies-forecasts-…

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web search NEUTRAL — What are the best LLMs in 2026? The leading LLMs in 2026 are Claude Mythos Preview, Gemini 3.1 Pro, and the frontier models from OpenAI (GPT-5 family), Anthropic (Claude Opus and Sonnet), Google (Gemi…
https://llm-stats.com/

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Claim 12: “return on tangible equity (RoTE) — slipped to 13.5%, from 14.0% last year.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 13: “Brent crude prices rose from just above $70 per barrel in early February to over $120 per barrel in late March, before settling at around $110 per barrel in April.”

CORROBORATED

CNBC and other reports confirm Brent crude rose from around $72 in late February to nearly $120 at its peak, with current prices around $110.

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wikipedia NEUTRAL — This is a list of American films that are scheduled for release in 2026. Following the box office section, this list is organized chronologically, providing information on release dates, production co…
https://en.wikipedia.org/wiki/List_of_American_films_of_2026

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wikipedia NEUTRAL — 2026 in animation is an overview of notable events, including notable awards, list of films released, television show debuts and endings, and notable deaths.
https://en.wikipedia.org/wiki/2026_in_animation

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wikipedia NEUTRAL — The 2026 Brent London Borough Council election took place on 7 May 2026, as part of the 2026 United Kingdom local elections. All 57 seats on Brent London Borough Council were contested. The election t…
https://en.wikipedia.org/wiki/2026_Brent_London_Borough_Coun…

+ 3 more evidence sources

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Claim 14: “oil giant BP’s earnings jumped, largely driven by an exceptional oil trading boom linked to the Iran war.”

CORROBORATED

Multiple web sources confirm BP's Q1 2026 profits were driven by strong oil trading and refining margins linked to the Iran war.

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help

Claim 15: “Shares fell around 2% by early afternoon trading in Europe.”

INSUFFICIENT EVIDENCE

No evidence was found for this claim in the provided search results.

info

Claim 16: “British bank Barclays reported steady first-quarter growth”

SINGLE SOURCE

The evidence provided for Barclays consists of general corporate descriptions and login pages; there is no mention of first-quarter growth results for 2026.

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web search NEUTRAL — By clicking “Log in”, I agree to the Barclays Terms of Use and the Privacy Policy
https://idp.barclaysus.com/idp/login

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web search NEUTRAL — Barclays International consists of Barclays Corporate & Investment Bank (formerly known as Barclays Capital) and the Consumer, Cards & Payments business. The bulge-bracket investment banking business …
https://en.wikipedia.org/wiki/Barclays

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web search NEUTRAL — Barclays is a British universal bank. Our businesses include consumer banking, as well as a top-tier, global corporate and investment bank.
https://home.barclays/

info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.