Technip Energies Shares Drop Nearly 3%, Weighed Down by Brent Crude's Fall

Technip Energies Shares Weighed Down by Brent's Drop to $94.52

Technip Energies stock is down 2.56% at €36.52 by midday, while the CAC 40 is up 0.95% and the SBF 120 up 0.91%. The stock is one of the worst performers in the SBF 120 index for the session.

Brent crude has fallen by 5.08% to $94.52 per barrel, losing 14.6% since May 18. This significant drop mechanically affects oilfield services companies whose order books depend on the investment decisions of major oil companies. Technip Energies is directly exposed to this factor, although its LNG business provides some stability.

The decline today is part of a longer trend, with the stock having been volatile since the quarterly report on April 30. Over the week, the stock still posts a gain of 2.41%, following the EPC contract worth over a billion euros secured in Louisiana with Commonwealth LNG announced on May 18. Over the year, the performance remains positive at 11.48%.

Neutral Technical Setup, Eyeing the €35.56 Support Level

The price has fallen below its short-term moving averages: it is 2.82% below the MM20 (€37.58) and 1.88% below the MM50 (€37.22). However, the MM200 at €36.19 is just under the current price, placing the stock near a medium-term technical marker.

The RSI at 52 indicates a neutral configuration, with no signs of exhaustion or overextension. The next level to watch in case of further decline is the support at €35.56, about 2.6% below the current price. On the upside, resistance is identified at €40.32.

The trajectory of Brent in the coming sessions, amid talks between Washington and Tehran around the Strait of Hormuz, remains the main external reference for the sector.