The economic recovery after the coronavirus pandemic escalated energy prices to highs. BP's gas trading team reportedly earned at least $ 500 million in the third quarter of 2021. The company was helped by the energy crisis. This situation is mainly due to the rapid growth of the economy, low gas reserves, insufficient production of energy from renewable sources.

Individual states and governments respond to rising gas and other energy prices through some regulation and subsidies. However, in Spain, people do not agree with price increases. The increase in electricity bills has sparked protests in Spain. People are aware of the negative situation and will put pressure on European governments to find ways to protect consumers or industry and calm markets.

BP's gas trading results have not been officially confirmed by its management. They were published on the basis of employee communication. The company did not comment on this situation. Energy companies do not disclose details of trading profits and losses in their quarterly profits. It is customary for them to indicate whether trading was positive or negative for the current period.

Performance of BP over 5 years (Source: Investing.com)