On Friday at 10:51 AM (Bangkok time), the share price of Thai Oil Public Company Limited (SET: TOP) surged by 2.78% or THB 1.00 to THB 37.00, with a trading value of THB 358.66 million, following the surge in global crude oil prices.
PTT Exploration and Production Public Company Limited (SET: PTTEP) increased by 2.78% or THB 3.00 to THB 111.00, with a trading value of THB 870.81 million.
IRPC Public Company Limited (SET: IRPC) rose by 1.79% or THB 0.02 to THB 1.14, with a trading value of THB 48.80 million.
Bangchak Sriracha Public Company Limited (SET: BSRC) grew by 3.64% or THB 0.16 to THB 4.56, with a trading value of THB 8.56 million.
Star Petroleum Refining Public Company Limited (SET: SPRC) jumped by 4.35% or THB 0.20 to THB 4.80, with a trading value of THB 126.38 million.
Bangchak Corporation Public Company Limited (SET: BCP) soared by 3.42% or THB 1.00 to THB 30.25, with a trading value of THB 72.68 million.
PTT Public Company Limited (SET: PTT) gained 1.61% or THB 0.50 to THB 31.50, with a trading value of THB 735.16 million.
Phillip Securities (Thailand) noted that the key drivers for oil and refinery stocks stem from a strong rebound in oil prices, following a 5% single-day surge in crude prices.
This spike was triggered by the U.S. announcing sanctions against two major Russian oil companies, whose combined output accounts for more than 5% of global oil production. This development supports oil and refinery stocks such as PTTEP, TOP, BCP, SPRC, and IRPC.
Following these, the analyst recommends a ‘Trading’ strategy for short-term speculation.
