TotalEnergies said Q2 oil trading performed strongly amid market volatility from the Middle East conflict, while gas trading was weak. Oil trading profits are expected to "remain at the strong levels seen in Q1," and downstream earnings and cash flow are expected to "grow sharply." The company's integrated LNG business is expected to "decline significantly" given the weak European LNG market. TotalEnergies' upbeat oil-trading outlook is consistent with signals from other international majors; We

TotalEnergies said Q2 oil trading performed strongly amid market volatility from the Middle East conflict, while gas trading was weak. Oil trading profits are expected to "remain at the strong levels seen in Q1," and downstream earnings and cash flow are expected to "grow sharply." The company's integrated LNG business is expected to "decline significantly" given the weak European LNG market. TotalEnergies' upbeat oil-trading outlook is consistent with signals from other international majors; Western oil companies are poised to report strong earnings as results are released later this month.