The BP (LSE: BP) share price has given investors comfort at a tricky time. While many FTSE 100 stocks have been knocked by Iran war volatility, it’s 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. Yet overall, BP shares have done well. They’re up 16% in the last three months, and a stunning 53% over one year. Dividends are on top. Long-term BP investors might also say that it’s about time too.

Despite that strong run, the stock trades at roughly the same level as it did at the start of the millennium. It’s had a bumpy 25 years, plunging with the rest of the market after the 2001 dotcom crash,…