A considerable jump in global oil and natural gas prices during the first quarter supported a big gain in profits for French supermajor Total SE. 

Total SE energy production

Commodity prices were strong during the period as the world continued recovering from Covid-19, while colder weather in the northern hemisphere helped drive natural gas demand. Total said average oil prices during the first quarter increased 38% sequentially to $61.10/bbl, while natural gas prices were up by 24% to an average of $4.06/MMBtu. 

Total also continued to boost its power business during the period as it leans on both renewable electricity and liquefied natural gas (LNG) to drive growth over the next decade. 

First quarter LNG sales remained strong at 9.9 million tons (Mt), flat from 9.8 Mt in the year-ago period and...