Full tank, crude oil price soaring support positive Thai stocks

Crude oil prices closed sharply. Thai oil prices are expected to follow The stock index receives virtue. Oil prices – solve the crisis, the US bank rebounded more than 10 points this morning.

Reporters reported this morning. The stock has already gained more than 10 points at 12:05. The SET index was at 1,604.38 points, an increase of 11.01 points (+0.69%).

Mr. Weerawat Wirojpoka, senior director of securities analysis department, FSS International Securities, said that as investors are still concerned about the banking crisis in the United States. After First Citizens BancShares agreed to acquire Silicon Valley Bank (SVB) and global oil prices rose, causing the Thai stock market to adjust this morning. up more than 10 points, supporting energy and bank stocks to rise The index in the short term sees the next resistance at 1,610 points and an important resistance at 1,620-1,630 points, while the support is at 1,590 points. Recommendations to follow tomorrow's MPC meeting and Thai export figures. Including inflation in the US and Europe later this week.

Krungsri Patanasin Securities stated in the analysis that refinery group As for TOP, PTTGC, BCP stocks, the stock price is again in the investment zone. Supporting the average refining margin in the first quarter of this year +9.42%, while there is a chance to see a slight positive surprise from stock gain after the average oil price in March 2023 is still higher than the end of the year 22.

Thai Oil Public Company Limited reported that crude oil prices increased. After Iraq suspended some crude oil exports from the semi-autonomous region of Kurdistan. Claiming to have the consent of Iraq first. As a result, Turkey has shut down a crude oil pipeline, whose exports account for about 0.5 percent of world oil supply, or about 450,000 barrels per day.

In addition, the US dollar weaken As a result, crude oil contracts traded in US dollars become cheaper. and more attractive to investors holding other currencies. While Russia plans to deploy nuclear weapons in Belarus intensifying geopolitical conflicts Including Russia preparing to cut oil production by 500,000 barrels per day. Resulting in tightening global crude oil supply. However, investors will keep an eye on the OPEC Plus meeting on April 3 whether there will be a change in production plans or not.–Thai News Agency

Source: Thai News Agency