US stocks pre-market movement: Total rises 3.2% pre-market, anticipates substantial growth in Q1 earnings with stronger upstream business performance

Glonghui April 16th｜French oil and gas giant Total’s shares rose 3.2% to $89.85 in pre-market trading on the US stock exchange. According to reports, Total expects its upstream business to perform even more strongly in the first quarter, supported by higher oil prices; its downstream business is also expected to improve, benefiting from increased refinery utilization and robust trading performance. Although about 15% of capacity has been shut down due to the conflict in the Middle East, the surge in oil prices and outstanding trading business are expected to lead to a significant growth in the company’s first-quarter earnings. The full quarterly results will be announced by the company on April 29.