Total profits jump 29% as war drives oil price surge and trading gains

french oil major total reported a 29% jump in profits for the latest quarter, driven by higher oil prices from the war and strong trading gains. the company doubled its share buyback program and raised its dividend, using the windfall to offset production losses in the middle east. total's upstream output fell in the period, but the revenue from each barrel sold more than made up for it. the company's trading desk also contributed significantly, capitalizing on volatile crude markets. the new buyback and dividend increase signal confidence that the cash flow will keep coming, even as some fields remain offline.