On October 3, 2025, several stocks in the Thai stock market linked to global crude oil prices traded lower in the morning session, following consecutive falls in the Brent and WTI benchmarks until Thursday due to concern over rising supply. Meanwhile, some operators showed resiliency amid recovery in oil prices this morning.
The share price of Thai Oil PCL (SET: TOP) closed at THB 34.50 per share, a THB 1.00 or 2.82% decrease with a total value of THB 115.06 million. Meanwhile, Bangchak Corporation PCL (SET: BCP) also closed at THB 30.75 per share, a THB 0.25 or 0.81% decrease with a total value of THB 12.08 million.
The state-enterprise giant PTT Public Company Limited (SET: PTT) closed flat at THB 32.25 per share, with a total value of THB 217.98 million. PTT Exploration and Production PCL (SET: PTTEP) also settled flat in the morning session at THB 114 per share with a total value of THB THB 3.12 billion.
The resilience in the morning session for some listed companies could be due to a recovery in oil price on Thursday, seeing Brent crude gaining 1.05% to $64.78, while WTI rose 1.12% to $61.16 a barrel.
According to Krungsri Securities, global crude oil prices have declined for four consecutive days, falling a total of 8.4% and reaching a four-month low. Last night, Brent dropped 1.90% from the previous day to close at USD 64.11 per barrel, while West Texas Intermediate crude oil fell 2.10% to close at USD 60.48 per barrel.
The primary pressure comes from expectations that OPEC+ is set to announce an increase in production at its meeting on October 5. According to Reuters’ sources, the production volume in November could increase as much as 500,000 barrels per day.
Additionally, the agreement between Iraq’s central government and the local government of the Kurdistan region with oil companies to resume crude oil exports via Turkey—at an estimated 230,000 barrels per day—has become a negative investment sentiment factor for upstream energy stocks (upstream energy) such as PTT, PTTEP, and TOP.
