LIVEMarkets rolling coverageStarted: July 19, 2026, 4:00 AM EDTUpdated: July 20, 2026, 3:59 AM EDT BP shares rally 29.5% as oil prices drive up refining margins, but output slips July 20, 2026, 3:52 AM EDT. BP shares are up 29.5% from a year ago, lifted by higher oil prices with Brent crude averaging $103.85 a barrel in Q2 2026. That pumped up BP’s refining margins to $29.6 per barrel, nearly twice the year-ago level. The company is cutting net debt, moving from $25.3 billion toward $22-23 billion. Analysts see the stock hitting 599p, or even 700p within twelve months, showing