LONDON, July 31 (Reuters) - BP’s oil trading business made a small loss in the second quarter, Chief Financial Officer Brian Gilvary told Reuters on Tuesday, while overall profit beat expectations.
“It was a tough market to call. We’re certainly not the only trading group that lost money in the second quarter,” he said, adding that oil trading, which gets reported through BP’s downstream business, had made losses twice before in the last five years.
He said he expected oil prices to stay within a $5 range around current prices for the next six months. (Reporting by Shadia Nasralla, editing by Louise Heavens)