The share price of listed companies in PTT Group all traded higher after oil prices spiked more than 10% in today’s trading session.
PTT Exploration and Production Public Company Limited (PTTEP) closed the morning session at ฿72.25/share, increased ฿5.25/share or 7.84% with a trading value of 2,271 million baht.
PTT Public Company Limited (PTT) closed the morning session at ฿31.25/share, increased ฿1.00/share or 3.31% with a trading value of 2,410 million baht.
PTT Global Chemical Public Company Limited (PTTGC) closed the morning session at ฿32.50/share, increased ฿1.25/share or 4% with a trading value of 1,188 million baht.
As of 13:50 local time in Thailand (GMT+7), the price of Brent Crude was $27.40/bbl, increased $2.66/bbl or 10.75%. Meanwhile, WTI rose $1.82/bbl or 8.96% to trade at $22.13/bbl.
Oil prices surged after the U.S. President Donald Trump said in a news conference that he expected those Suadi Arabia and Russia to “work it out over the next few days” as the oil industry already “ravaged” after oil prices were severely slashed and hit 18-year low.
“It’s very bad for Russia, it’s very bad for Saudi Arabia. I mean, it’s very bad for both. I think they’re going to make a deal,” Trump said at the White House.