TotalEnergies Profits Surge on Oil and Refining | Business and Finance News

TotalEnergies is riding a profit surge in Q2 fueled by rising oil prices and tighter fuel markets, with strong gains in refining and oil trading. Downstream operations are set to see a sharp uptick, while trading results remain solid. The company has downgraded its estimate of Middle East conflict disruptions to 210K barrels per day, reflecting improved regional production. However, some oil produced couldn’t be shipped, counted at lower June prices, and LNG trading is under pressure in a flat European market. This trend mirrors Shell and BP’s recent success in refining and trading. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/c7cbb51ee3959a6d