On August 20, BP PLC rose 3.04% in regular trading, trading at $45.12/share, with turnover of $61.95 million. The rally was driven by Brent crude surging above $90 per barrel amid escalating US-Iran geopolitical tensions, lifting the broader energy sector.

BP's strong fundamental backdrop further supported the move. The company's Q2 results, reported earlier this month, showed revenue of $69.11 billion, up 48.2% year-over-year, with adjusted EPS of $2.22 beating consensus by $0.44. Profit more than doubled to $5.73 billion, boosted by elevated energy realizations and surging oil trading gains.

Strategically, BP has been actively expanding its upstream portfolio, securing an exploration license for the Loran Phase 2 offshore gas field in Venezuela with an estimated 4 trillion cubic feet of recoverable resources, and acquiring Woodside's 70% stake in a Trinidad gas project. RBC Capital Markets maintained an outperform rating, noting BP's balance sheet is set to strengthen further in H2. Within the Integrated Oil and Gas sector, Occidental rose 3.13%, Petrobras 2.43%, Shell 2.02%, and Exxon Mobil 1.91%.

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