Total (TTE.US) Q2 profit pre-announcement: Brent oil quarterly average price approaches $100 to boost upstream, LNG business is the only drag.

According to the Securities Times APP, French energy giant Total (TTE.US) announced its second-quarter performance forecast on Thursday, stating that higher oil prices and soaring refining margins due to the Iran conflict are expected to drive overall profitability growth for the group. However, the performance of the liquefied natural gas (LNG) sector is expected to decline significantly due to the downturn in the European market and setbacks in natural gas trading.