Shares in Thailand’s leading petrochemical and refining firms rose on March 26, 2026, driven by volatility in global oil prices and changes in regional supply. Investors responded to shifting risks in energy feedstocks and rapid movement in plastic resin prices, supporting sector valuations.
- PTT Global Chemical Plc (PTTGC) saw its stock increase by 6.35% to 33.50 baht.
- Indorama Ventures Plc (IVL) traded at 22.90 baht, up 1.78%.
- Thai Oil Plc (TOP) climbed 2.62% to 49 baht.
- IRPC Plc traded higher by 7.78% to 1.94 baht
- Bangchak Corporation Plc (BCP) advanced 1.94% to 39.50 baht.
- SCG Plc (SCC) edged 0.26% higher to 194 baht.
Krungsri Securities noted that continued Middle East tensions are being monitored by the market, as Iran has denied direct talks with the United States despite reports of negotiations through intermediaries. Iran has outlined several conditions to end the conflict.
Concurrently, Ukraine’s drone attacks on Russian energy infrastructure have led to marginal increases in crude oil prices, providing moderate support to Thai upstream energy and refining stocks such as TOP, BCP, SCC, PTTGC, and IVL. Lower perceived feedstock risk, particularly as only around 9% of PTTGC’s feedstock originates from the Middle East, has also contributed to positive sentiment toward the group.
Additional support for the sector came from supply adjustments in China’s industrial production and government efforts to boost domestic consumption. Separately, Innovest X Securities highlighted a sharp and rapid increase in domestic polyethylene (PE) resin prices, which have risen from 30–36 baht to 52–60 baht per kilogram within just two weeks—a pace previously unseen. This trend is seen as weighing on companies involved in plastic packaging and consumer products, while benefitting petrochemical producers like PTTGC and SCC due to improved product spread.
