Guardian: BP has smashed City forecasts with a 135% jump in profits, thanks to rising oil prices. The energy giant reported profits of $5.6bn (£3.6bn) in the first three months of 2010, up from $2.4bn a year ago. Analysts had expected a figure of around $4.8bn on a replacement cost profit basis, which strips out fluctuations in the value of oil inventories. The unexpectedly large jump in earnings was mainly thanks to BP’s exploration and production arm, which benefited from oil prices of …