Total stock, oil, and equity markets
In the second quarter, Total (TOT) stock has fallen 2% due to lower oil prices. WTI has fallen 11%.
Total stock and peers, which fell in May, have started recovering this month. Chevron (CVX) and BP (BP) are down just 1.6% and 3.2%, respectively, this quarter, whereas Royal Dutch Shell (RDS.A) has recovered and is up 3%r. The recovery may have been driven by improving equity markets. The SPDR S&P 500 ETF (SPY) has risen 2% in the second quarter.
Total stock’s performance in Q2
In April, Total stock closed flat. Oil rose in the first quarter, continuing the previous quarter’s uptrend, but Total’s dull first-quarter numbers, impacted its stock. In May, oil prices and equity markets were hit by intensifying US-China and US-Mexico trade tensions and the rising US oil supply, which affected global economic growth and oil demand estimates. Oil prices fell 16%, SPY fell 6%, and Total stock fell 7.5% in May.
However, in June, sentiments improved on expectations of interest rate cuts by the Fed. US-Mexico trade tensions moderated, further strengthening the market. This month, SPY has risen 5%, oil prices have fallen 1%, and Total stock has risen 6%.