BP: Earnings hit 14-year high amid anger over energy firm profits

BP has revealed second-quarter profits more than trebled to a 14-year high as it joined rival Shell in reaping the benefits of soaring oil and gas prices. Yet the result comes as households are struggling to meet rocketing bills and anger is mounting over massive profits from oil and energy firms following bumper results from Shell and British Gas owner Centrica last week. BP also warned that there is not expected to be any let up with energy prices over the summer, forecasting that crude oil and gas prices will remain high over the third quarter due to supply disruption from Russia.

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