TOP shares, price rise, brokers look at margin refinement – petro spreads in advance – Thunhoon

#TOP #Than Hoon – Stock of Thai Oil Public Company Limited or TOP, the price has increased. Brokers see refining margins and petrochemical spreads on the rise. of strong global demand

TOP stock price movement, lunch break, closed at 53.75 baht, plus 1.75 baht or 3.37%, with a trading value of 485.49 million baht.

Bualuang Securities Given that in the last week, the refined margin (based on Singapore) up $0.60 WoW to $7.95/barrel Led by a group of benzene (gasoline) of strong global demand. Also, supply was tightened due to some refineries shutting down for maintenance. and China exports less and diesel group Increases as supply dwindles due to strikes in France. and some maintenance While the jet fuel sector is sliding on high stocks in Singapore. and fuel oil contracted due to higher supply as well

Although the price difference (spread) continues to increase overall. according to the reduction in raw material costs in line with the direction of oil prices As for the overall picture of 1Q23, spreads are expected to weaken YoY but expand QoQ from China opening up the country. (Only some of them are abbreviated to QoQ) Bualuang Research likes TOP which shares the most in the refinery group and IVL which is the most in the chemicals group.

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