TotalEnergies Profit Jumps 68% as War Upends Energy Markets

Disruptions in the Strait of Hormuz and the conflict between Russia and Ukraine are tightening fuel supplies, boosting profits for the world’s top energy companies. TotalEnergies refining margin surged. Alongside peers including Shell Plc and BP Plc, it also has a large trading desk, which helped the company to take navigate the market upheaval.