TOP and SPRC Shares Surge on China's Fuel Export Restrictions

โดย Kaohoon·THCNUS·Read original
Summary · why it matters

Refinery stocks led by TOP and SPRC rose sharply today after China restricted exports of oil products, prompting the market to expect that supplies of refined fuels in Asia may tighten, particularly diesel and jet fuel. At 10:28 a.m., TOP stood at 71.50 baht, up 4.50 baht, or 6.72%, with trading value of 1.09 billion baht, while SPRC stood at 14.70 baht, up 0.70 baht, or 5.00%, with trading value of 287.21 million baht. Brent crude rose 29 cents, or 0.28%, to 102.60 dollars per barrel, and WTI rose 27 cents, or 0.29%, to 93.14 dollars per barrel, after China did not allow major refineries to export diesel, gasoline, and jet fuel to markets outside Hong Kong and Macau in October. Meanwhile, the United States is preparing to send a third aircraft carrier and additional troops of up to about 10,000 personnel to the Middle East, and has called on Germany and France to release diesel from emergency reserves, proposing that the European Union release a total of about 120 million barrels of diesel over the next six months.

Impact on assets 3

Energy▲ · 1 stocks
Star Petroleum Refining Co Ltd
SPRC
▲ PositiveSupplyrelevance

China's restriction on diesel/gasoline/jet fuel exports is expected to tighten Asian refined fuel supply, lifting refining margins for SPRC.

Energy Transition & Power Demand▲ · 1 stocks
Thai Oil Public Company Limited
TOP
▲ PositiveSupplyrelevance

China's export restrictions on refined fuels are seen tightening Asian supply, boosting Thai Oil's refining margins.

Others▲ · 1 stocks
⛏Heating Oil Futures
HEATOIL
▲ PositiveSupplyrelevance

China's ban on diesel/jet fuel exports and calls for emergency reserve releases point to tighter distillate supply, supportive for heating oil.

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