Stocks in PTT Group Skyrocket after Oil Prices Surge 24% Overnight!

The share prices of listed companies in PTT Group all traded higher after oil prices spiked more than 24% last night in response to the rumor about Saudi Arabia and Russia’s agreement to cut oil output by upto 15 million barrels per day.

 

PTT Public Company Limited (PTT) traded at ฿36.00/share, increased ฿2.25/share or 6.67% with a trading value of 2,172 million baht.

PTT Exploration and Production Public Company Limited (PTTEP) traded at ฿79.50/share, increased ฿4.25/share or 5.65 with a trading value of 1,141 million baht.

PTT Global Chemical Public Company Limited (PTTGC) traded at ฿36.25/share, increased ฿1.50/share or 4.32% with a trading value of 421 million baht.

Global Power Synergy Public Company Limited (GPSC) traded at ฿58.25/share, increased ฿0.50/share or 0.87% with a trading value of 142 million baht.

IRPC Public Company Limited (IRPC) traded at ฿2.42/share, increased ฿0.06/share or 2.56% with a trading value of 196 million baht.

Thai Oil Public Company Limited (TOP) traded at ฿37.75/share, increased ฿2.25/share or 6.34% with a trading value of 321 million baht.

 

Yesterday, the U.S. President Donald Trump said that he had spoken to the crown prince of Saudi Arabia Mohammad Bin Salman, who also had spoken to President Vladimir Putin, and expected an oil cut upto 15 million barrels per day.

 

However, Russia denied the news by saying that there were no conversations between the Kremlin and Riyadh, and so far there were no plans for such talks.

 

Still, both the Dow Jones and S&P 500 remain more than 25% below their respective all-time highs in February as the global market set back in fear of the coronavirus outbreak.