PTT Group Falls after a 4% Drop in Oil Prices as 3rd Wave in Europe Pressures the Market

The share price of PTT Group edged lower in the morning session on Wednesday, March 24, 2021, after a huge plummet in the oil market overnight as concerns over the third wave of coronavirus outbreak in Europe, which led to an extended lockdown in Germany weighed the market down.

 

At the open, PTT Public Company Limited (PTT) plunged ฿0.25/share or 0.62% to ฿40.00/share.

PTT Exploration and Production Public Company Limited (PTTEP) dropped ฿2.00/share or 1.77% to ฿111.00/share.

PTT Global Chemical Public Company Limited (PTTGC) fell ฿1.00/share or 1.56% to ฿63.00/share.

PTT Oil and Retail Business Public Company Limited (OR) dipped ฿0.25/share or 0.78% to ฿32.00/share.

IRPC Public Company Limited (IRPC) slipped ฿0.04/share or 1.08% to ฿3.70/share.

Thai Oil Public Company Limited (TOP) lost ฿0.75/share or 1.23% to ฿60.75/share.

 

Oil prices continued to decline in the morning session in the Asia market trading hours after a 4% plummet last night as concerns over fuel demand, reflecting the lockdown in Germany and the ongoing coronavirus cases in Europe, which are the biggest oil consumers.

 

Yesterday, the West Texas Intermediate (WTI) for May delivery lost 3.8 U.S. dollars to settle at 57.76 dollars a barrel, while the international benchmark Brent crude for May delivery shed 3.83 dollars to close at 60.79 dollars a barrel. Both benchmarks lost nearly 11% total in the past five days.