Quick take: O&G counters boosted by oil price rally

KUALA LUMPUR: Oil and gas (O&G) related counters attracted investors’ attention this morning as oil price rally continues.

Reuters reported that Brent crude settled at US$64.34 a barrel, gaining 99 cents, or 1.6%, while U.S. West Texas Intermediate (WTI) crude settled at US$61.14 a barrel, rising US$1.09, or 1.8%.

Both benchmarks were at their highest levels since January last year.

Bursa Malaysia’s Energy Index rose 39.13 points, or 4.15% to 980.98.

Velesto Energy Bhd, Alam Maritim, KNM Group, Bumi Armada, Sapura Energy Bhd and Hibiscus are among the top active counters on Bursa Malaysia.

Velesto rose one sen to 17.5 sen, Alam gained 1.5 sen to 11 sen, KNM climbed 1.5 sen to 22 sen and Bumi Armada advanced 2.5 sen to 40.5 sen.

Sapura added 0.5 sen to 15.5 sen while Hibiscus rose four sen to 74 sen.

Meanwhile, refiners Hengyuan Refining Co Bhd and Petron Malaysia Refining & Marketing Bhd are among the top gainers on Bursa Malaysia.

Hengyuan jumped 26 sen to RM6.44 and Petron rose 18 sen to RM5.37.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

O&G , refiners , Velesto , Hengyuan , Petron


Next In Business News

TRC Synergy secures RM43mil submarine jetty maintenance job
MR DIY remains on track for growth in 2021
Jalil Rasheed sets path to BCorp revival, plans RM5bil non-core asset sale
UWC records RM24mil profit in Q3, factories running at 60% capacity during lockdown
VS Industry posts best-ever quarterly profit as revenue tops RM1bil
Luno sees RM4.11b of transactions so far this year
Tenaga, Petronas-linked stocks and plantations weigh
Axiata Group to seal Malaysia ops merger deal with Telenor in days
Axiata says its digital businesses to be profitable by 2022
MICG: EY advice limited to issues raised by KPMG in Serba Dinamik audit

Stories You'll Enjoy