Oil price tests $110; Trinity flags 3 refinery stocks BCP, SPRC, TOP as Q3 profit momentum builds

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Summary · why it matters

Brent crude rose to test nearly $110 per barrel in early trading today after fighting between Houthi armed groups in Yemen and Saudi-backed forces intensified. Analysts at Trinity Securities said supply concerns and an increasingly tight oil market continue to build, and reiterated their view from early this month that holding energy stocks remains necessary to protect portfolios from geopolitical risk factors that appear likely to drag on indefinitely. Trinity sees the refinery group as attractive, naming three stocks: BCP, SPRC and TOP, on expectations that third-quarter earnings momentum will remain strong.

Impact on assets 5

Energy Transition & Power Demand▲
Thai Oil Public Company Limited
TOP
▲ PositiveDemandrelevance

Trinity names TOP among attractive refinery stocks on expectations of strong Q3 earnings momentum amid tight oil market.

Energy▲
Star Petroleum Refining Co Ltd
SPRC
▲ PositiveDemandrelevance

Trinity names SPRC among attractive refinery stocks on expectations of strong Q3 earnings momentum amid tight oil market.

Financials▲
Others▲
⛏Brent Crude Oil Futures
BRENT
▲ PositiveGeopoliticsrelevance

Brent crude tests $110 as Houthi fighting with Saudi-backed forces intensifies, tightening supply concerns.