TotalEnergies shares declined 1.1% today as crude oil prices moved lower following remarks by U.S. President Donald Trump that talks with Iran were due to start Monday afternoon and that an agreement over the Strait of Hormuz was "imminent." Speaking to reporters aboard Air Force One, Trump said the U.S. was engaging with Iran "in form of a negotiation... it begins tomorrow afternoon and we’ll see if it’s true."
The softer crude backdrop has pressured names across the integrated energy sector, with peers including BP and Shell also experiencing selling pressure during the session. That downward momentum in oil has limited the ability of European energy stocks to participate in the modestly positive tone in U.S. equity markets today - the S&P 500 rose 0.4%, the Dow Jones advanced 0.6% and the Nasdaq climbed 0.5%.
TotalEnergies, which is a core holding in both the CAC 40 and the Euro Stoxx 50, typically moves in tandem with commodity cycles. In this case the easing of crude prices has offset any optimism tied to deal activity, leaving the stock nearer to the lower bound of the day’s trading range of €74.34–€75.6 and noticeably below its 52-week peak of €81.34.
Market participants cited a combination of factors behind the pullback. Deal-related uncertainty around capital deployment related to the Shell renewables acquisition has weighed on sentiment, while the broader decline in crude has undercut near-term earnings outlooks for integrated energy companies. Analysts have also trimmed estimates recently, creating residual caution that contributed to today's weakness in the shares.
In summary, today’s move in TotalEnergies reflects the interaction of a weaker oil-price environment, transaction-related capital allocation questions stemming from the Shell deal, and conservative analyst positioning following earnings estimate reductions. Together these forces have pushed the stock toward the lower end of its intraday range despite a generally firmer backdrop in U.S. equity indices.