KUALA LUMPUR: Refiners Petron Malaysia Refining & Marketing Bhd
and Hengyuan Refining Co Bhd were among the top gainers on Bursa Malaysia in early trade on Monday, tracking a rally in oil prices amid escalating tensions in the Middle East.
As at 9.34 am, the Bursa Malaysia Energy Index rose 1.45%, or 11.12 points, to 777.40.
Petron Malaysia added six sen to RM3.55 at 9.21 am, while Hengyuan gained eight sen to RM1.42.
Oil prices surged more than 2% on Monday, with Brent crude climbing above US$90 a barrel after the United States and Iran expanded attacks in the Middle East, raising concerns over energy shipments through the Strait of Hormuz, Reuters reported.
Brent crude rose US$2.12, or 2.41%, to US$90.22 a barrel, while U.S. West Texas Intermediate crude advanced US$1.75, or 2.12%, to US$84.24 per barrel.
