TotalEnergies sees strong third quarter profit surge
TotalEnergies expects a sharp rise in third quarter profits driven by higher refining margins and LNG income. The Middle East conflict has pushed energy prices to multi year highs ahead of winter demand.
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TOTALENERGIES SE expects third-quarter profits to surge, driven by refining margins quadrupling from a year ago and a sharp rise in LNG income. The ongoing conflict involving the United States, Israel, and Iran has effectively closed the Strait of Hormuz, driving energy costs higher. Strong winter demand is further bolstering financial returns for major producers across the sector.
