TotalEnergies CEO Sees Normalization of Gas, Diesel Rates in Up to Four Months
TotalEnergies (TTE.PA, TTE.L) Chief Executive Officer Patrick Pouyanné expects the market for gasoline and diesel to stabilize in three to four months as shipping worries ease, Bloomberg News reported July 4. Presently, shipowners are hesitant to transport tankers through the Strait of Hormuz, Pouyanné said at the Rencontres Economiques conference in Aix-en-Provence, France. At the same time, crude is being sold at discounted rates as the conflict in the Middle East has created large stockpiles for Arab producers, the CEO added. The French energy giant did not immediately respond to a request for comment.
TotalEnergies (TTE.PA, TTE.L) Chief Executive Officer Patrick Pouyanné expects the market for gasoline and diesel to stabilize in three to four months as shipping worries ease, Bloomberg News reported July 4.
Presently, shipowners are hesitant to transport tankers through the Strait of Hormuz, Pouyanné said at the Rencontres Economiques conference in Aix-en-Provence, France.
At the same time, crude is being sold at discounted rates as the conflict in the Middle East has created large stockpiles for Arab producers, the CEO added.
The French energy giant did not immediately respond to a request for comment.