Stocks in PTT Group Rally amid Rising Oil Prices and Lower-Than-Expected U.S. Inventories

The share prices of PTT Group edged higher in the morning session after crude oil prices recovered once again, showing higher demand while U.S. inventories reported lower than expected.

 

PTT Public Company Limited (PTT) closed the morning session at ฿40.25/share, increased ฿1.00/share or 2.55% with a trading value of 1,628 million baht.

PTT Exploration and Production Public Company Limited (PTTEP) closed the morning session at ฿119.00/share, increased ฿3.00/share or 2.59% with a trading value of 1,635 million

PTT Global Chemical Public Company Limited (PTTGC) closed the morning session at ฿67.50/share, increased ฿2.25/share or 3.45% with a trading value of 1,654 million

PTT Oil and Retail Business Public Company Limited (OR) closed the morning session at ฿30.50/share, increased ฿0.50/share or 1.67% with a trading value of 1,635 million

 

In the trading session in the Asia market, the international benchmark Brent Crude rose 0.40% to US$67.54/bbl, while West Texas Intermediate (WTI) gained 0.38% to US$64.10/bbl.

 

Earlier, OPEC and its allies, a group known as OPEC+, reached an agreement for a gradual increase of oil production from May to July after the group raised its estimate for global demand in 2021 to 6 million barrels per day.

In the meantime, the Energy Information Administration on Wednesday reported that the U.S. crude inventories rose by 90,000 barrels last week, much lower than analysts’ forecasts for a 659,000-barrel increase.