PTT-PTTEP-PTTGC Surge 4%, Following a 6% Jump in Oil Prices over Trump’s Better Condition

The share price of PTT, PTTEP and PTTGC surged on Tuesday after a jump near 6% in oil price overnight in response to the report of Trump being discharged from the hospital he has been treating for coronavirus since last Friday.

 

As of 11:41 local time in Thailand (GMT+7), PTT Public Company Limited (PTT) rose ฿1.00/share or 3.10% to ฿33.25/share with a trading value of 1,034 million baht.

PTT Exploration and Production Public Company Limited (PTTEP) increased ฿3.75/share or 4.89% to ฿80.50/share with a trading value of 1,085 million baht.

PTT Global Chemical Public Company Limited (PTTGC) advanced ฿1.75/share or 4.46% to ฿41.00/share with a trading value of 470 million baht.

 

Last night, oil prices jumped more than 5% after the doctors allowed the U.S. President Donald Trump returned to the White House, saying that his condition was better. The global benchmark, Brent Crude, rose $2.30 or 5.9% to $41.57 a barrel. Meanwhile, the U.S. WTI increased $2.17 or 5.9% to $39.22 per barrel.

 

Moreover, PTTEP also received positive sentiment over the report of being able to advance in Erawan Field after the Department of Mineral Fuels had made a negotiation with Chevron and affirmed that the gas production would continue during the changing in 2023-2024.