Shares in PTT group edged higher on Monday after global oil prices reached a one-month high of US$73.86/bbl.
As of 11.18 A.M. Bangkok time, the share price of PTT Pcl. (SET: PTT) rose THB0.25/sharee, or 0.74%, to THB34.00/share, with a trading value of THB612 million.
The share price of PTT Exploration and Production Pcl. (SET: PTTEP) rose THB2.50/sharee, or 1.66%, to THB153.00/share, with a trading value of THB517 million.
The share price of PTT Global Chemical Pcl. (SET: PTTGC) rose THB0.50/sharee, or 1.30%, to THB39.00/share, with a trading value of THB204 million.
The share price of Thai Oil Pcl. (SET: TOP) rose THB0.75/sharee, or 1.69%, to THB45.00/share, with a trading value of THB136 million.
According to a report published by Krungsri Capital Securities on Monday, an increase of US$2/bbl in the price of crude oil, which caused it to close at a month-high of US$73.86/bbl, could provide support for the prices of oil-related equities like PTTEP, TOP, BCP, SPRC, and PTTGC.
The brokerage recommends PTTEP with a consensus target price of THB169.00.