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TotalEnergies SE

TotalEnergies SE

$TTE
EuronextEnergy

264 stories mentioning TotalEnergies SEUpdated 2d ago

Shares fell amid a broad energy-sector selloff Monday as oil prices dropped on US-Iran ceasefire progress.

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Asia Markets

Update: US Equity Futures Drop as AI Concerns Weigh on Tech Stocks, Middle East Conflict Continues

US equity futures were edging lower pre-bell Friday as concerns over artificial intelligence spending weighed on chip stocks and the wider technology sector, while the conflict in the Middle East showed no signs of de-escalating.Dow Jones Industrial Average futures were 0.5% lower, S&P 500 futures were down 0.9%, and Nasdaq futures were 1.9% lower.Global tech stocks continued their drop from the previous session, including Nvidia (NVDA), which was down 2.6% in premarket activity.US Central Command said in a post on X that it completed the sixth consecutive wave of attacks against Iran, degrading the nation's military capabilities and holding it "accountable" for recent attacks on commercial shipping in the Strait of Hormuz.Iran said it had targeted US military forces in Syria and Bahrain in a broadening of the scope of its attacks in the Middle East.Traders assessed the latest round of earnings, with Netflix (NFLX) reporting an increase in fiscal Q2 earnings and revenue on late Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.4% at $86.20 per barrel and US West Texas Intermediate crude 2.5% higher at $80.95 per barrel.June housing starts rose to a 1.427 million annual rate from 1.199 million in the previous month, compared with expectations for a 1.31 million rate in a survey compiled by Bloomberg. US import prices rose 0.3% in June, above the 0.7% increase expected and below the 1.7% gain in May. US export prices fell 0.6% in June, compared with the 0.7% decrease expected and the 1.2% increase in the prior month.The June industrial production report, due at 9:15 am ET, is forecast to show a 0.2% gain following a 0.1% increase in the prior month. The University of Michigan consumer sentiment index for July, slated for 10 am ET, is expected at 51.0, up from 49.5 previously.In other world markets, Japan's Nikkei closed 4% lower, Hong Kong's Hang Seng ended 1.8% lower, and China's Shanghai Composite finished 3.1% lower. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, included in the tech stock sell-off were Applied Materials (AMAT), Lam Research (LRCX), and Intel (INTC), which were down 5.3%, 4.7%, and 4.5%, respectively. SpaceX (SPCX) shares fell 4.4% after CEO Elon Musk said in a post on X that the company's Starship rocket triggered an "automatic launch abort" Thursday, with the next launch to be rescheduled possibly "in a few days." Netflix stock was down 11% after it posted Q2 revenue that fell short of analysts' consensus estimates.On the winning side, energy-related stocks rose along with the increase in oil prices. Exxon Mobil (XOM) shares were 2% higher, Shell (SHEL) stock was up 2.1%, and TotalEnergies (TTE) shares were up 2.3%.

Dow JonesNasdaq CompositeS&P 500$AMAT$INTC$LRCX$NFLX$NVDA$SHEL$SPCX$TTE$XOM
Oil & Energy

Nigeria Eyes Turn-Around in Deepwater Oil, Fiscal Incentives Generate Appetite

Nigeria is set for a major turnaround in deepwater crude oil extraction, Wood Mackenzie said in an article on Thursday, in which its analysts shared their updated views on the country's prospects after attending the Nigeria Oil and Gas conference in Abuja last week.Nigeria, Africa's largest liquids producer, has huge deepwater potential, but it has gone more than a decade without major investment until a final investment decision for Bonga North in 2024. Deepwater liquids output has fallen below 500,000 barrels per day from a 800,000-bbl/d peak in 2016.That is likely to change now. Nigeria's government is now aiming for 3 million bbl/d output and 12 billion cubic feet per day of natural gas by 2030 and to reverse decline through regulatory reform and fiscal incentives.Six deepwater legacy contracts between state-run Nigerian National Petroleum and international oil companies were extended in 2022, while new incentives were introduced in 2024, including tax credits for fields that reach final investment decision before 2029.Oil companies have taken note and are pursuing deepwater development plans. Four large greenfield projects could alone produce more than 2 billion barrels of oil equivalent, Wood Mackenzie said.Shell (SHEL), ExxonMobil (XOM), Eni (E) and TotalEnergies (TTE) have raised the priority of Nigerian deepwater projects that previously were unappealing before the introduction of incentives.Evidence of this is Shell's 2024 FID on Bonga North, 20 years after it was discovered, and ExxonMobil's approval last week of the $1 billion Usan Infill Project as part of a pledge to invest $10 billion to develop deepwater assets in Nigeria.TotalEnergies recently said it would acquire Conoil's 50% stake in the Egina South discovery while Shell bought 10% of TotalEnergies' stake in OML 118 to boost its Bonga Southwest-Aparo project.WoodMackenzie said Nigeria has a strong opportunity to reverse decline in deepwater output, with projects collectively adding a potential 700,000 barrels of liquids and 950 billion cubic feet per day of gas.Risks are mainly centered around project execution while others include partner alignment, competition for capital, unitization, regulatory approvals, gas sales agreements and supply chain constraints.On the other hand there is some spare capacity at present on existing floating production and storage, but also some "creaky" infrastructure.The gauge of whether Nigeria's deepwater ambitions will be realized, can be gauged to a degree by whether Bonga Southwest-Aparo, Zabazaba and Preowei reach FID within 18 months."If these projects get over the line, Nigeria's deepwater resurgence will prove it has real bite," the article concluded.

$E$SHEL$TTE$XOM
Sectors

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index increasing 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index was down 0.5%, and the Dow Jones US Utilities Index was fractionally higher.Front-month West Texas Intermediate crude oil shed 0.8% to $78.98 a barrel, and the global benchmark Brent crude contract decreased 0.8% to $84.27 a barrel. Henry Hub natural gas futures fell 1.2% to $2.89 per 1 million BTU.In sector news, US natural gas stocks rose by 41 billion cubic feet in the week ended July 10, above the 39 billion increase expected in a survey compiled by Bloomberg and following an increase of 61 billion cubic feet in the previous week.In corporate news, Excelerate Energy (EE) shares rose 2.2% after Goldman Sachs initiated coverage of the stock with a buy rating and a $49 price target.Chevron (CVX) is expected to sign accords with Iraq on Friday that will further the company's negotiations about investing in large oil fields, Bloomberg reported Thursday, citing a senior company executive. Chevron shares were up 1.1%.Constellation Energy's (CEG) venture arm made an equity investment in Blue Energy, a developer of prefabricated nuclear power plants, for an undisclosed amount. Constellation shares were down 2.9%.TotalEnergies (TTE) expects Q2 hydrocarbon production to be nearly 2.4 million barrels of oil equivalent per day, supported by about 4% organic growth, the company said Thursday. Its shares were shedding 1.9%.

$CEG$CVX$EE$TTE
Sectors

Sector Update: Energy Stocks Rise Thursday Afternoon

Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index increasing 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index was down 0.3%, and the Dow Jones US Utilities Index was fractionally lower.In geopolitical news, Iran has asked Yemen's Houthi movement to stand ready to close the Red Sea oil route if the US strikes Iranian power infrastructure, Reuters reported.Front-month West Texas Intermediate crude oil shed 0.5% to $79.24 a barrel, and the global benchmark Brent crude contract decreased 0.3% to $84.67 a barrel. Henry Hub natural gas futures fell 2.7% to $2.85 per 1 million BTU.In sector news, US natural gas stocks rose by 41 billion cubic feet in the week ended July 10, above the 39 billion increase expected in a survey compiled by Bloomberg and following an increase of 61 billion cubic feet in the previous week.Separately, Kalshi traders now see a 90% chance that gas prices will exceed $4 per gallon by the end of this month, up from 56% two days ago, CNBC reported. Traders see a 93% chance of prices topping $4 and a 63% chance of exceeding $4.10, with the contract verified by AAA, the report said.In corporate news, Chevron (CVX) is expected to sign accords with Iraq on Friday that will further the company's negotiations about investing in large oil fields, Bloomberg reported Thursday, citing a senior company executive. Chevron shares were up 1.2%.Constellation Energy's (CEG) venture arm made an equity investment in Blue Energy, a developer of prefabricated nuclear power plants, for an undisclosed amount. Constellation shares were down 2.7%.TotalEnergies (TTE) expects Q2 hydrocarbon production to be nearly 2.4 million barrels of oil equivalent per day, supported by about 4% organic growth, the company said Thursday. Its shares were shedding 1.7%.

$CEG$CVX$TTE
Sectors

Sector Update: Energy Stocks Edge Higher Premarket Thursday

Energy stocks were edging higher premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.1%.The United States Oil Fund (USO) was up 0.2% and the United States Natural Gas Fund (UNG) was 0.1% lower.Front-month US West Texas Intermediate crude oil was 1.1% higher at $80.46 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.1% to $85.87 per barrel, and natural gas futures were inactive at $2.92 per 1 million British Thermal Units.TotalEnergies (TTE) expects Q2 hydrocarbon production to be nearly 2.4 million barrels of oil equivalent per day, supported by about 4% organic growth, the company said. Shares of TotalEnergies were down more than 1% pre-bell.Baker Hughes (BKR) said it has completed its acquisition of Chart Industries (GTLS) for $210 per share in cash, representing an enterprise value of $13.6 billion. Baker Hughes shares were 0.2% lower premarket.Halliburton (HAL) said it has secured lump sum turnkey contracts awarded by Aramco that include oil re-entry operations, drilling, completions, and workovers in multiple onshore fields in the Kingdom of Saudi Arabia. Shares of Halliburton were 0.2% lower pre-bell.

$BKR$GTLS$HAL$TTE$UNG$USO$XLE
Sectors

Sector Update: Energy

Energy stocks were edging higher premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.2%.The United States Oil Fund (USO) was up 0.4% and the United States Natural Gas Fund (UNG) was 0.1% lower.Front-month US West Texas Intermediate crude oil was 1.1% higher at $80.44 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.1% to $85.85 per barrel, and natural gas futures were up 0.9% at $2.95 per 1 million British Thermal Units.TotalEnergies (TTE) expects Q2 hydrocarbon production to be nearly 2.4 million barrels of oil equivalent per day, supported by about 4% organic growth, the company said. Shares of TotalEnergies were down more than 1% pre-bell.

$TTE
Commodities

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Thursday Amid Semiconductor Stock Weakness

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.3%, and the actively traded Invesco QQQ Trust (QQQ) retreated 0.9% in Thursday's premarket activity, amid weakness in semiconductor stocks.US stock futures were mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures gaining 0.2%, and Nasdaq futures slipping 0.5% before the start of regular trading.US initial jobless claims fell to a level of 208,000 in the week ended July 11 from an upwardly revised 216,000 level in the previous week, compared with expectations for a level of 217,000 in a survey of analysts compiled by Bloomberg.The New York Federal Reserve's services index jumped to 8.7 in July from minus 10.1 in June.US retail sales rose by 0.2% in June, as expected in a survey compiled by Bloomberg and following the previous month's revised 1.0% increase.The Philadelphia Federal Reserve's monthly manufacturing index jumped to 41.4 in July after rising to 10.3 in June, compared with expectations for a much smaller increase to a reading of 12.5 in a survey compiled by Bloomberg as of 7:30 am ET.Reports releasing at 10:00 am ET include the pending home sales data for June, business inventories data for May, and home builder sentiment data for July.Weekly natural gas stocks data will be released at 10:30 am ET.Fed Vice Chair Philip Jefferson is slated to speak on Thursday.In premarket action, bitcoin was down by 1.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.1% lower, Ether ETF (EETH) retreated 1.9%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 2.1%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 1%, the Vanguard Health Care Index Fund (VHT) gained 0.8%, while the iShares US Healthcare ETF (IYH) rose 0.9%. The iShares Biotechnology ETF (IBB) increased marginally by 0.02%.UnitedHealth Group (UNH) stock was up more than 5% premarket after the company reported higher Q2 adjusted earnings and revenue.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.9%, while the Vanguard Industrials Index Fund (VIS) was down 0.7% and the iShares US Industrials ETF (IYJ) was inactive.GE Aerospace (GE) stock was down more than 3% before the opening bell, even after the company reported higher Q2 adjusted earnings and revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.7%, and the iShares US Consumer Staples ETF (IYK) advanced marginally by 0.03%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased 0.4%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.6%.Honda Motor (HMC) shares were up more than 2% pre-bell after a 0.7% decline at the prior close. Nikkei reported that the company plans to begin production of its UC3 electric motorcycle in Vietnam as early as September, shifting manufacturing from Thailand as it looks to capitalize on growing demand for electric two-wheelers in the country.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.UBS Group (UBS) shares traded down 2% in early hours activity following a 2.3% gain in the previous session. Bloomberg News reported, citing an internal memo, that the company hired former Goldman Sachs (GS) managing director Takehiro Sakuramoto to head its debt capital markets division in Japan.EnergyThe iShares US Energy ETF (IYE) gained 0.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.04%.TotalEnergies (TTE) stock was down more than 2% before market open, extending losses from its 0.7% retreat at the end of Wednesday's session. The company said it expects Q2 hydrocarbon production to be nearly 2.4 million barrels of oil equivalent per day, supported by about 4% organic growth.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.5%, and the iShares US Technology ETF (IYW) was 1.2% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined 2.7%, while the iShares Semiconductor ETF (SOXX) fell by 3.7%.Nvidia (NVDA) shares were down more than 1% in premarket activity after advancing 0.3% at Wednesday's close. The company said it is working with Noetra to launch a factory of central processing units and graphics processing units to support the development of a national "Physical AI" infrastructure.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 1% to $80.41 per barrel on the New York Mercantile Exchange. Natural gas was up by 0.8% to $2.95 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 0.4%, while the United States Natural Gas Fund (UNG) was 0.8% higher.Gold futures for July retreated 0.5% to $4,032.80 an ounce on the Comex. Silver futures retreated by 0.7% to $57.02 an ounce. SPDR Gold Shares (GLD) decreased 1.4%, and the iShares Silver Trust (SLV) was 2.9% lower.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$GE$GLD$GS$HMC$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVDA$PMR$QQQ$RTH$SLV$SOXX$SPY$TTE$UBS$UNG$UNH$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Equities

TotalEnergies Sees Higher Q2 Upstream, Downstream Results as Oil Prices Rise

TotalEnergies (TTE) expects Q2 hydrocarbon production to be nearly 2.4 million barrels of oil equivalent per day, supported by about 4% organic growth, the company said Thursday.Average liquids price is expected to be $91.60 per barrel, compared with $73.70/bbl in Q1 and $65.60/bbl a year ago. Average gas price in Q2 is expected to drop to $5.55 per million British thermal unit from $5.59/MMBtu in Q1 and $5.63/MMBtu a year ago.The company expects exploration and production cash flow to increase by about $1 billion from Q1 on higher liquids prices, partially affected by production that was not lifted due to Middle East disruptions.TotalEnergies expects integrated LNG results to decline due to weaker gas trading, while integrated power and downstream cash flow are projected to increase following the EPH transaction, stronger refining margins and resilient oil trading.The company also expects working capital to decline by $1 billion to $1.5 billion during the quarter and its gearing ratio to improve by about 2 percentage points.

$TTE
Oil & Energy

TotalEnergies Production to Hit 2.4 Mboe/d in Q2 Despite Regional Challenges

TotalEnergies (TTE) expects Q2 hydrocarbon production to near 2.4 million barrels of oil equivalent per day, the company said on Thursday.The impact of the Middle East conflict on production was estimated at 210,000 barrels per day, lower than the 360,000 barrels per day previously forecast, due to a successful ramp-up of operations in the UAE and the resumption of production in other regional countries during June, Total said.Average liquids price is expected to be $91.6 per barrel, compared with $73.7/bbl in Q1 and $65.6/bbl a year ago.Exploration and Production segment results are expected to rise, although they will be adjusted to account for a portion of the quarter's production that could not be lifted and was valued at lower end-of-June crude prices, the company said.Meanwhile, the integrated LNG segment faced a significant decline, largely attributed to underperformance in gas trading amid a flat European market, it added. Average gas price in Q2 is expected to drop to $5.55 per million British thermal unit from $5.59/MMBtu in Q1 and $5.63/MMBtu a year ago.Conversely, the downstream segment is expected to see a sharp increase in results and cash flow compared to Q1 2026.This growth is supported by higher refining and petrochemical margins, as well as strong oil trading results that remained stable throughout the period, the energy major added.

$TTE
Commodities

Halliburton Secures Integrated Drilling Contract for Total's GranMorgu Project

Halliburton (HAL) has secured integrated drilling and completions contracts for the GranMorgu deepwater development in Block 58, offshore Suriname, operated by TotalEnergies (TTE), the company said on Tuesday.The GranMorgu development, which will target the Sapakara and Krabdagu fields, is designed with an estimated production capacity of 220,000 barrels of oil per day, it said.Halliburton aims to enhance well placement accuracy and delivery assurance while lowering the project's total cost of ownership by applying real-time data and remote operations control, according to the statement.First oil from the development is anticipated in 2028, the company said.The project marks a significant expansion for Suriname's offshore energy sector, with Halliburton committing to substantial local infrastructure development.

$HAL$TTE
Oil & Energy

US-Iran Tensions Disrupt LNG Trade, Cloud Strait of Hormuz Shipments, Vortexa Says

US-Iran tensions are disrupting global liquefied natural gas trade, weakening Asian imports and clouding prompt supply routes through the Strait of Hormuz, Vortexa said in a weekly note on Monday.Asia received 4.3 million metric tons across 66 cargoes last week, the lowest level since mid-May and more than 10% below its four-week average, Vortexa said.China imported 800,000 mt on 13 cargoes, its weakest level since April. South Korea received 600,000 mt across nine cargoes, nearly 20% below its recent average, the firm said.Japan bucked the regional trend, with imports reaching 1.2 million mt across 20 cargoes, almost 10% above the four-week average. India also received 600,000 mt on eight cargoes, over 5% above its recent average, according to the note.Pakistan secured two spot cargoes from BP (BP) and TotalEnergies (TTE) and expects another BP shipment on July 15-16 after delays to Qatari supply.Asian spot LNG averaged $17.4 per million British thermal units, its highest since the US-Iran memorandum of understanding, the firm said.Europe imported 1.8 million mt across 35 cargoes, about 8% above its recent four-week low. France received 300,000 mt on five cargoes, over 40% above its recent average after maintenance ended at key terminals, Vortexa said.Spain imported 300,000 mt on five cargoes, about 70% above its recent average.Greece's Alexandroupolis floating storage and regasification unit also accepted its first cargo since maintenance in March, the firm said.European Union gas storage reached 52%, trailing the five-year average by 15 percentage points. LNG send-out averaged about 3,100 gigawatt-hours per day, the lowest since October 2024, Vortexa said.QatarEnergy's Al Rekayyat Q-Flex carrier came under attack by a projectile on July 6 while leaving the Strait of Hormuz. Confirmed LNG transits have declined since then, although several vessels have continued crossing, Vortexa said.Several QatarEnergy carriers resumed Automatic Identification System transmissions after operating without signals. Al Gattara, Al Samriya and Al Dafna reappeared near Ras Laffan, while Onaiza resurfaced off India and is bound for Incheon, South Korea, the firm said.Ras Laffan loaded six cargoes, or 400,000 mt, last week, while about 15 ballast LNG carriers remained in Qatari waters. Alhamra was the only vessel to load in the UAE.Mexico's 3.25 million mt per annum Energia Costa Azul terminal exported its first LNG cargo on July 7 aboard the Pacific Success. BW Tulip is expected to load next, while TotalEnergies will be the terminal's only LNG buyer during the ramp-up, according to Vortexa.TotalEnergies' 1.7 million mt per annum supply agreement and Mitsui's 800,000 mtpa contract will begin later this summer, Vortexa added.Angola's 5.2 million mtpa LNG terminal entered a planned 32-day maintenance outage on July 8 after averaging 400,000 mt of monthly loadings during the first half, the firm said.US LNG exports totaled 2.3 million mt across 32 cargoes last week, while Australia shipped 1.6 million mt on 23 cargoes, broadly matching recent averages, Vortexa said.Russia delivered its fourth sanctioned Portovaya LNG cargo to China's Beihai terminal on July 12 to July 13. Arctic LNG 2 also resumed seasonal shipments, while Sakhalin 2 remained offline for scheduled maintenance.Price: $40.95, Change: $+1.75, Percent Change: +4.46%

$BP$TTE
Wire

Halliburton Awarded Integrated Drilling, Completions Contracts Offshore Suriname

Halliburton (HAL) won integrated drilling and completions contracts for the GranMorgu deepwater development offshore Suriname, operated by TotalEnergies (TTE), the company said Monday.The long-term contract covers drilling and completions services, with Halliburton using integrated digital and automation technologies to improve well construction efficiency, well placement accuracy and reduce costs.The project includes investments in local infrastructure, including upgrades to Halliburton's liquid mud and cement plant and construction of Suriname's first drilling and completions workshop, the company added.Halliburton shares were up 3% in Monday trading.Price: $35.43, Change: $+1.04, Percent Change: +3.01%

$HAL$TTE
Asia Markets

Update: US Equity Futures Drop Pre-Bell as Iran Says Strait of Hormuz Closed Once Again, Oil Prices Jump

(Updates with recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were lower pre-bell Monday as hostilities continued to re-escalate in the Middle East and Iran declared the Strait of Hormuz once again closed, driving up oil prices.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 1.2% lower.The US and Iran traded heavy missile and drone attacks over the weekend, with the US military saying they hit Iranian military facilities, while Iran's Revolutionary Guards said they had struck US installations in Bahrain, Kuwait, Oman and Jordan.Iran, which is seeking to set up a permanent fee and permit system for ships transiting the Strait of Hormuz, said Sunday that the waterway remains closed until "stability and calm" is restored.In a post on X, US Central Command said that its forces are "postured and prepared to ensure that freedom of navigation remains available to commercial shipping."Traders await a slew of earnings releases this week, including results from major US banks JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), and Citigroup (C) on Tuesday; Johnson & Johnson (JNJ), Morgan Stanley (MS), and BlackRock (BLK) on Wednesday; and Taiwan Semiconductor Manufacturing (TSM), UnitedHealth Group (UNH), GE Aerospace (GE), and Netflix (NFLX) on Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.3% at $79.27 per barrel and US West Texas Intermediate crude 4.2% higher at $74.41 per barrel.Federal Reserve board members Michelle Bowman and Christopher Waller are slated to speak on Monday.In other world markets, Japan's Nikkei closed 1.9% lower, Hong Kong's Hang Seng ended 0.2% higher, and China's Shanghai Composite finished 2.1% lower. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was flat in Europe's early afternoon session.In equities, Micron Technology (MU), AMD (AMD), and Intel (INTC) stocks were lower as part of a broader decline in the semiconductor sector. Micron shares fell 5.5%, AMD stock was down 2.9%, and Intel shares were 3.5% lower.On the winning side, the increase in oil prices lifted energy-related stocks. TotalEnergies (TTE) shares were up 1.6%, ConocoPhillips (COP) stock was 1.9% higher, and BP (BP) shares rose 1.6%. Accenture (ACN) stock was up 1% after the company said its subsidiary Accenture Capital on Friday closed the sale of five tranches of notes totaling approximately $5 billion.

Dow JonesNasdaq CompositeS&P 500$ACN$AMD$BAC$BLK$BP$C$COP$GE$GS$INTC$JNJ$JPM$MS$MU$NFLX$TSM$TTE$UNH$WFC
Sectors

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks were lower late Thursday afternoon, with the NYSE Energy Sector Index falling 1.2% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 1.4%.The Philadelphia Oil Service Sector Index dropped 1.4%, and the Dow Jones US Utilities Index decreased 0.4%.Crude oil prices fell in the aftermath of Washington degrading Iran's capability to attack commercial ships transiting the Strait of Hormuz. US Central Command overnight hit 90 Iranian military targets, according to its social media post on X, after striking 80 on the previous night following Iran's attacks on three commercial ships transiting the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows.Front-month West Texas Intermediate crude oil fell 2.5% to $71.72 a barrel, and the global benchmark Brent crude contract dropped 2.6% to $75.97 a barrel.US natural gas stocks rose by 61 billion cubic feet in the week ended July 3, larger than the 58 billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 87 billion cubic feet in the previous week.Henry Hub natural gas futures slumped 6.3% to $3.01 per 1 million BTU.In corporate news, Chevron (CVX) is poised to post Q2 earnings above Wall Street's expectations on stronger crude prices and improved refining margins, UBS Securities said in a note. Chevron shares were down 1.4%.Bloom Energy (BE) shares were up 2.5% after the company rejected claims made in a short seller report as "false and misleading." Hunterbrook Media's report alleged Bloom Energy relies on Chinese suppliers for scandium, a key material used in its fuel cells.BP (BP) will push decision-making closer to the "frontline" and seek greater financial accountability and discipline, said Meg O'Neill, the British energy giant's new CEO, on LinkedIn. BP shares fell 1.6%.TotalEnergies (TTE) shares were shedding 0.7% after the company said it sold its 170-megawatt distributed solar portfolio in seven European countries to Amarenco and AMPYR Distributed Energy.

$BE$BP$CVX$TTE
Sectors

Sector Update: Energy Stocks Fall Thursday Afternoon

Energy stocks were lower Thursday afternoon, with the NYSE Energy Sector Index falling 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 1.2%.The Philadelphia Oil Service Sector Index dropped 1.5%, and the Dow Jones US Utilities Index was fractionally lower.Crude oil prices fell in the aftermath of Washington degrading Iran's capability to attack commercial ships transiting the Strait of Hormuz. US Central Command overnight hit 90 Iranian military targets, according to its social media post on X, after striking 80 on the previous night following Iran's attacks on three commercial ships transiting the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows.Front-month West Texas Intermediate crude oil fell 2.2% to $71.91 a barrel, and the global benchmark Brent crude contract dropped 2.4% to $76.15 a barrel. Henry Hub natural gas futures slumped 6% to $3.02 per 1 million BTU.US natural gas stocks rose by 61 billion cubic feet in the week ended July 3, larger than the 58 billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 87 billion cubic feet in the previous week.In corporate news, Chevron (CVX) is poised to post Q2 earnings above Wall Street's expectations on stronger crude prices and improved refining margins, UBS Securities said in a note. Chevron shares were down 1%.BP (BP) will push decision-making closer to the "frontline" and seek greater financial accountability and discipline, said Meg O'Neill, the British energy giant's new CEO, on LinkedIn. BP shares fell 1.8%.TotalEnergies (TTE) stock was down 0.7% after the company said it sold its 170-megawatt distributed solar portfolio in seven European countries to Amarenco and AMPYR Distributed Energy.

$BP$CVX$TTE
Sectors

Sector Update: Energy Stocks Decline Pre-Bell Thursday

Energy stocks were declining pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% lower.The United States Oil Fund (USO) was down 1.5% and the United States Natural Gas Fund (UNG) was 2.1% lower.Front-month US West Texas Intermediate crude oil was 0.2% higher at $73.64 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.4% to $78.30 per barrel, and natural gas futures were down 0.7% at $3.19 per 1 million British Thermal Units.Shell (SHEL) received valid tenders for about $6.3 billion of outstanding unregistered notes in its previously announced exchange offers, the oil giant said. Shares of Shell were 0.6% lower premarket.TotalEnergies (TTE) stock was down 0.4% after the company said it sold its 170-megawatt distributed solar portfolio across seven European countries to Amarenco and AMPYR Distributed Energy.BP (BP) will push decision-making closer to the "frontline" and seek greater financial accountability and discipline, said Meg O'Neill, the British energy giant's new CEO, on social media platform Linkedin. BP shares were down more than 1% pre-bell.

$BP$SHEL$TTE$UNG$USO$XLE
Commodities

TotalEnergies Divests Distributed Solar Assets in Europe

Oil supermajor TotalEnergies (TTE) has completed the divestment of its distributed solar assets in Europe, totaling 170 megawatts in capacity, as it refocuses its renewables business on utility-scale solar and wind farms, it said on Thursday."Distributed generation involves the development of projects generally below 3 MW, for which TotalEnergies' business model is less suited than for large utility-scale power plants that offer economies of scale," the company said.Amarenco and AMPYR Distributed Energy will continue to operate the divested solar assets, which are mainly rooftop installations, in France, Belgium, the Netherlands, Spain, Portugal, the UK, and Luxembourg, according to the statement.TotalEnergies said the divestment will not impact its pace of renewables capacity deployment. It has installed 8 gigawatts of gross renewable capacity in the last 12 months and aims to maintain that pace through 2030.This is expected to support its target of reaching 75 GW gross capacity by 2030, more than double the March level of 35 GW.

$TTE
Oil & Energy

Exxon Mobil to Invest $1 Billion to Add 40,000 Barrels per Day to Nigeria Oil Output

Exxon Mobil (XOM) will invest $1 billion in a project in Nigeria that will add about 40,000 barrels per day to the country's crude oil output, the Nigerian Upstream Petroleum Regulatory Commission said in a post on Instagram on Wednesday.The commission said the investment in on-block activities in the Usan Infill Project in OML 138, was announced by Jagir Baxi, managing director of Exxon Mobil affiliates in Nigeria, during the 25th NOG Energy Week Conference the same day.Commission Chief Executive, Oritsemyiwa Eyesan said the announcement would mark the first drilling by Esso Exploration and Production Nigeria, an Exxon Mobil affiliate, since 2016.Esso Exploration and Production operates the OML 138 within which the Usan field is found. The block is operated via a production sharing contract with NNPC Limited, with partners including Chevron (CVX), TotalEnergies (TTE) and Nexen, a subsidiary of China National Offshore Oil.Separately, the NUPRC on Wednesday awarded licenses from the 2022/23 Mini Bid Round and Nigeria 2024 Licensing Round, with recipients including Boron Energy, Petroli Energy Marketing and Supply, Sahara Deepwater Resources and Tulcan Energy.In all 12 entities were awarded 19 petroleum prospecting licenses, the statement said, spanning deep offshore, shallow water and continental shelf acreages.

$CVX$TTE$XOM
Commodities

TotalEnergies Ships 1st Cargo From ECA LNG Phase 1 to Asia

Oil supermajor TotalEnergies (TTE) said Thursday it has shipped the first liquefied natural gas cargo from California's Energia Costa Azul LNG Phase 1 to Asia, as it serves as the facility's sole off-taker during the ramp-up phase.The facility, consisting of a 3.25-mmt single liquefaction train, is under commissioning. It is strategically located on Mexico's west coast, providing the shortest maritime route to export US natural gas to Asian markets, according to the company.TotalEnergies owns a 16.6% stake in the project and has a 20-year agreement with Sempra's (SRE) subsidiary, Sempra Infrastructure, for the annual supply of 1.7 million metric tons of LNG from the start of commercial operations.Project operator Sempra Infrastructure said that the facility will also supply LNG to Japanese firm Mitsui under a long-term sale and purchase agreement.ECA LNG Phase 1 is expected to reach "substantial" completion in the summer of this year, the statement said, while Phase 2 is under development at the same site.

$SRE$TTE
Equities

TotalEnergies Exits Distributed Solar Generation Business in Europe

TotalEnergies (TTE) said Thursday it sold its 170-megawatt distributed solar portfolio across seven European countries to Amarenco and AMPYR Distributed Energy.The company said the divestment aligns with its strategy to focus renewable development on large utility-scale solar and wind projects.The sale will not affect its renewable expansion plans, as TotalEnergies aims to maintain its annual installation pace of about 8 gigawatts to exceed 75 GW of gross renewable capacity by 2030, it added.

$TTE

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