At the end of the trading session on Friday, the share price of PTT Exploration and Production Public Company Limited (SET: PTTEP) gained 3.98% or THB 4.50 to THB 117.50, with a trading value of THB 2.23 billion.
Kasikorn Securities (KS) stated that shares of PTTEP advanced in afternoon trading, buoyed by a rebound in global crude oil prices. Brent crude climbed close to the $70-per-barrel mark, providing solid support for upstream energy stocks like PTTEP.
The rally followed news that the European Union (EU) has approved a new round of sanctions against Russia, stepping up pressure in response to Moscow’s ongoing invasion of Ukraine.
The sanctions package, the 18th since the onset of the war, introduces several key measures, including a dynamic price cap mechanism on Russian oil. The new cap sets the ceiling $15 below global market prices, starting at approximately $45–50 per barrel, with automatic adjustments at least twice a year.
Additionally, the EU expanded the list of Russian banks excluded from the SWIFT international payment network, imposed outright bans on certain types of transactions with Russia, blacklisted the Nord Stream gas pipeline to prevent its future reactivation, and put restrictions on imports of Russian-refined oil products transshipped through third countries. These coordinated actions aim to tighten the economic stranglehold on Moscow, cutting off critical revenue streams used to fund its military operations in Ukraine.
