Total Energies unveiled its growth plan through 2035, targeting upstream production growth of more than 3% a year to 2030 and between 2% and 3% from 2031 to 2035, with Barclays analyst Lydia Rainforth noting the free cash flow growth is not reflected in the share price, which closed Monday at 80 euros. Oil prices rose amid stalled U.S.-Iran ceasefire talks, with front-month WTI crude at $93.52 and Brent at $106.41, as Iran stood by a proposal rejected by President Trump, though Foreign Minister Abbas Araghchi was due to meet mediators in New York. Crude oil later rose toward $95 a barrel as ceasefire prospects soured, with WTI up 1.9% to $94.19 and Brent up 2.1% to $106.48, after Trump rejected an Iranian truce proposal that would have opened the Strait of Hormuz for seven days.

RWE’s outperformance is expected to continue, supported by a strong balance sheet and demand for power, with JPMorgan maintaining an outperform rating and a 68.50 euro target price; shares rose 0.6% to 55.19 euros and are 27% higher year to date.