On Thursday at 11:19 AM (Bangkok time), the share price of PTT Exploration and Production Public Company Limited (SET: PTTEP) surged by 3.40% or THB 5.00 to THB 152.00, with a trading value of THB 5.42 billion.
Kasikorn Securities (KS) stated that global oil prices have risen by nearly 4%, with Brent crude oil closing at approximately $107 per barrel. This is due to escalating tensions between Israel and Iran following attacks and threats against energy infrastructure in the Middle East.
Iran has retaliated after the Israeli Air Force attacked Iran’s gas and oil storage facilities in the South Pars field, one of the world’s largest natural gas reserves. Kasikorn views this as a positive factor for PTTEP.
Land and Houses Securities (LHS) wrote that for every $1 per barrel increase in Dubai crude oil price, PTTEP’s profit will be positively impacted by approximately 1.6%, and the target price will rise by around THB 2.90 using the DCF (Discounted Cash Flow) valuation method.
Overall, PTTEP is considered a direct beneficiary of the increase in crude oil prices resulting from the latest conflict between the U.S. and Iran. Additionally, foreign investor purchases are expected to further support the stock’s momentum in the near future.
