Repsol's Operating Environment Looks Supportive for Fourth Quarter -- Market Talk

Dow Jones

2025/10/30

0854 GMT - Repsol's refining margins look supportive for the fourth quarter, RBC Capital Markets analysts Biraj Borkhataria and Adnan Dhanani say in a research note. The Spanish energy company said that refining margins in October have been $9.7 a barrel of oil on average. This suggests that the group is clearly in upgrade territory for the fourth quarter if margins were to hold near here, the analysts say. Repsol posted third-quarter figures that came in ahead of consensus estimates, driven primarily by a stronger commercial segment, the analysts say. Shares trade 0.4% lower at 15.85 euros. (nina.kienle@wsj.com)

(END) Dow Jones Newswires

October 30, 2025 04:54 ET (08:54 GMT)

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