Shares in PTT Group Edge Higher in Response to a Spike in Crude Prices Overnight

Following a robust gain of SET Index by 18.01 points or 1.22% in the morning session on February 2, 2021, in line with positive momentum in the regional markets as crude prices edged higher overnight, stocks in PTT group also rose in response to crude oil prices jumped 2.6% to US$53.55 per barrels. 

 

The share price of PTT Exploration and Production Public Company Limited (PTTEP) increased ฿1.50/share or 1.41% to ฿108.00/share with a trading value of 633 million baht.

 

The share price of PTT Global Chemical Public Company Limited (PTTGC) gained ฿0.75/share or 1.23% to ฿61.50/share with a trading value of 239 million baht.

 

The share price of GLobal Power Synergy Public Company Limited (GPSC) gained ฿0.50/share or 0.64% to ฿78.75/share with a trading value of 439 million baht. 

 

The share price of Thai Oil Public Company Limited (TOP) gained ฿1.00/share or 1.78% to ฿57.25/share with a trading value of 194 million baht.

 

As WTI crude for March delivery closed at USD53.55 per barrel, up USD1.35 (+2.6%) and crude oil prices rose on positive factors about Saudi Arabia’s production cut of 1 million barrels per day (Feb-Mar 2021), Asia Wealth Securities looked positive for energy stocks, recommending PTTEP (Buy, TP Bt118), PTT (Buy, TP Bt45) and PTTGC (Buy, TP Bt71).