Oil Rises on Middle East Tensions, Suggest Switching to Petrochemicals

IndustryCommodity
โดย thunhoon.com·GLOBAL·Read original
Summary · why it matters

The resurgence of tensions in the Middle East has led to an increase in the average Dubai crude oil price last week by 4.42 US dollars per barrel, or 5%, to 93.03 US dollars per barrel. Meanwhile, the Singapore refining margin fell by 2.84 US dollars per barrel to 17.31 US dollars per barrel, due to increased regional supply and high US oil inventories. Analysts believe that the strong earnings of refinery groups have already been reflected in their stock prices and recommend switching investments to the petrochemical sector, especially IVL and PTTGC, whose share prices have risen more slowly. Most petrochemical spreads have improved, such as the Ethylene-Naphtha Spread, which increased by 93 US dollars to 242 US dollars per ton. Additionally, the blockade of shipping routes in the Red Sea could support short-term freight rates, with the World Container Index rising 4% to 4,526 points, a positive factor for RCL shares. Meanwhile, the BDI index fell 5% to 2,820 points, but Supramax vessels, which are related to PSL and TTA, increased 2% to 1,634 points. The NEX coal price index also rose 3% to 131.81 US dollars per ton, driven by strong demand in Asia-Pacific.

Impact on stocks 5

Industrials▲ · 2 stocks
Critical Materials & Supply Chain▲ · 1 stocks
Indorama Ventures PCL
IVL
▲ PositiveDemandrelevance

Petrochemical spreads improved, benefiting IVL as analysts recommend switching to petrochemicals.

Materials▲ · 1 stocks
Energy Transition & Power Demand▲ · 1 stocks
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