The BP (LSE:BP) share price has provided investors with comfort at a tough time. Although many FTSE100 stocks have been battered by the instability of the Iran war, this is a clear and obvious beneficiary. But for how much longer?

There have been ups and downs in recent weeks, depending on the prospects for peace. Overall, however, BP shares performed well. They are up 16% in the last three months and a staggering 53% in one year. Dividends are at the top. Long-term BP investors might also say it’s about time.

Despite such a good streak, shares are trading at approximately the same level as at the beginning of the millennium. It has had a rocky 25 years, falling with the rest of the market after the dotcom crash in 2001 and suffering further losses in the form of the financial crisis in 2007, the Deepwater Horizon tragedy in 2010 and the Covid-19 lockdowns in 2020.

So how are FTSE 100 shares performing today?

The war in Ukraine has raised the price of oil but also forced BP to accept a massive £25 billion for its stake in Russian state oil company Rosneft. The group also suffered management problems, with its last two chief executives, Bernard Looney and Murray Auchincloss, leaving abruptly. It also has difficulty responding to climate change pressures.

First quarter results (April 28) showed a forceful start to 2026, with quarterly revenue increasing by £5.3 billion to £52.3 billion. BP’s trading arm struck black gold as customers raced to secure energy supplies. However, investors cannot assume that this situation will continue. Much depends on what happens with Iran and oil prices.

BP’s huge profits also attracted the attention of the Treasury. The current windfall levy already accounts for around a third of all taxes it pays to the UK government. Now Chancellor Rachel Reeves has scrapped a tax rule allowing oil and gas companies to offset UK profits against overseas losses in order to fund a £1.8 billion cost of living support package.

Is it worth considering the oil giant?

Another issue to consider today (May 25) is the news that the United States has reached a peace agreement under which Iran will give up its uranium and open the Strait of Hormuz. If the market hadn’t been closed for the bank holiday, I imagine the FTSE 100 would have gone higher and BP shares would have gone the other way. Although you never know with things like this.

You never know with Donald Trump’s peace deals either. This trend could stall and then BP stock could rebound.

Energy tends to be a cyclical sector. I would rather buy a stock like BP at the bottom than at the top. So I added it to my SIPP about 18 months ago when it was definitely unpopular. I now plan to maintain this position throughout the cycle, reinvesting any dividends I receive.

Despite its recent success, the forward price-to-earnings ratio is a modest 8.2. In addition, there is considerable income with a projected profitability of 4.6%. Unfortunately, share buybacks remain suspended. Today I am careful with the purchase. However, long-term investors may still consider buying if there is a decline. Maybe we’ll get one soon.

Is it worth investing £5,000 in Bp Plc now?

If investing expert Mark Rogers and his team have stock advice, it can pay to listen. After all, Twelfth Magpie’s flagship Share Advisor newsletter, which it has run for almost a decade, provides thousands of paying members with the best share recommendations from across the UK and US markets.

Mark believes there are 6 standout stocks that investors should consider buying right now. Want to check if Bp Plc is on the list?

Harvey Jones owns shares of BP.