On Friday at 10:57 AM (Bangkok time), the share price of PTT Exploration and Production Public Company Limited (SET: PTTEP) increased by 1.84% or THB 2.00 to THB 110.50, with a trading value of THB 509.84 million.
Bangchak Corporation Public Company Limited (SET: BCP) surged by 0.88% or THB 0.25 to THB 28.50, with a trading value of THB 44.43 million.
Star Petroleum Refining Public Company Limited (SET: SPRC) jumped by 3.91% or THB 0.25 to THB 6.65, with a trading value of THB 39.45 million.
Thai Oil Public Company Limited (SET: TOP) rose by 0.64% or THB 0.25 to THB 39.50, with a trading value of THB 154.58 million.
Finansia Syrus Securities (FSS) stated that the price of Brent crude oil surged more than 3.39% last night, mainly due to global geopolitical risk concerns after the United States seized a Russian oil tanker, while Iran is facing nationwide protests, which pose a risk of affecting 2% of global oil supply exports.
Iraq is in the process of approving a plan to transfer operations of the West Qurna-2 oil field, the country’s largest crude oil production site, from a major Russian oil company—sanctioned by the U.S.—to the state.
As these developments follow the U.S. seizure of Venezuela, the world’s largest economy also plans to take over Greenland and seize Colombia.
Finansia believes Brent crude oil prices will remain volatile in the short term within the range of approximately $60 per barrel in line with ongoing geopolitical tensions, while anticipating that the crude oil market will face continued excess supply by 2026.
The brokerage firm noted that PTTEP and refinery stocks will receive positive sentiment in the near term. The petrochemical sector, on the other hand, is expected to encounter negative.
