BP (NYSE: BP) reported on Tuesday a quarterly profit more than doubled from last year’s first quarter and far exceeding analyst expectations, thanks to high oil prices and what it described as an “exceptional” oil and gas trading business. The company's stock price jumped by as much as 5% in early trading on Tuesday. The UK-based supermajor booked an underlying replacement cost (RC) profit – its proxy for net profit – of $6.245 billion for the first quarter of 2022, more than double the $2.630-billion profit…
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