EnergyReader · 2026-08-05 08:22

TotalEnergies Earnings Signal How Far the Hormuz Squeeze Has Lifted Refining Margins

By EnergyReader Newsroom · August 5, 2026

TotalEnergies reported adjusted net income of $6 billion for the second quarter of 2026, up 68% from a year earlier, as the Iran war's grip on Strait of Hormuz crude flows drove oil prices and refining margins to multi-year highs. The company's European Refining Margin Marker soared nearly threefold year-to-date and rose 19% quarter-to-quarter.

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