On Monday at 10:42 AM (Bangkok time), the share price of PTT Public Company Limited (SET: PTT) rose by 2.03% or THB 0.75 to THB 37.75, with a trading value of THB 1.26 billion.
PTT Exploration and Production Public Company Limited (SET: PTTEP) surged by 2.92% or THB 4.00 to THB 141.00, with a trading value of THB 2.73 billion.
Kasikorn Securities (KS) stated that the ongoing conflict in the Middle East between Iran and the United States, as well as Arab nations, has driven energy prices higher. This has caused oil prices to rebound to nearly USD 80 per barrel.
Additionally, news of the closure of the Strait of Hormuz has impacted oil transportation, which is a factor that could cause oil prices to continue rising. The situation is a positive factor for oil stocks, especially PTT and PTTEP.
