TTE

TotalEnergies SE

52.34
USD
4.35%
52.34
USD
4.35%
40.33 61.14
52 weeks
52 weeks

Mkt Cap 138.20B

Shares Out 2.64B

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Energy Sector Update for 05/24/2022: PBR, FRO, TTE, XLE, USO, UNG

Energy stocks were declining premarket Tuesday as the Energy Select Sector SPDR (XLE) was recently slipping by 0.60%. The United States Oil Fund (USO) was 0.02% lower and the United States Natural Gas Fund (UNG) was nearly 1% lower. West Texas Intermediate crude oil was down by $0.30 at $109.99 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude lost $0.13 to $113.29 per barrel and natural gas futures were $0.11 lower at $8.63 per 1 million BTU. Petrobras (PBR) shares were down more than 11% after the company said it received a request from Brazil's mines and energy ministry to remove Jose Mauro Ferreira Coelho as chief executive. Frontline (FRO) reported a Q1 adjusted loss of $0.01 per diluted share, compared with adjusted profit of $0.04 per share a year ago. Three analysts polled by Capital IQ expected a loss of $0.01 per share. Frontline shares were up 2%. TotalEnergies (TTE) said it has reached an agreement with Hanwha Energy Corp. to provide the Korean company with 600,000 metric tons of liquefied natural gas per year for 15 years. TotalEnergies shares were down nearly 1%. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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