BP is the latest oil major to report huge profits after revealing a quarterly surplus of $8.2 billion (£7.1 billion), driven by a surge in prices.
Shell and US-listed ExxonMobil and Chevron have already announced bumper profits, leading to calls for additional windfall taxes.
Stock markets, meanwhile, are starting the new month focused on tomorrow’s interest rates decision by the US Federal Reserve and the Bank of England on Thursday. Last night, the Dow Jones Industrial Average posted its best month since 1976 after a 14% rise.
