Possible scenario
Margins Normalize Faster
25% Chance
Refining margins retreat from the Q3 windfall level as supply disruptions ease and buyers rebuild inventories. The outcome would challenge expectations that TotalEnergies can repeat the $33.2 per barrel margin level into Q4.
Initial impacts
- Oil prices Down
Secondary impacts
- Energy -0.5%
Tickers
- TTE-2.1%
Portfolio impact
S&P 500+0.0%
Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.
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