A slew of oil and gas-related stocks surged with crude oil prices hitting a 30-month-high of US$71 per barrel.
RH Petrogras, Marco Polo Marine, GSS Energy, Kim Heng, Interra Resources, Ausgroup, Sinostar PEC, REX International were all among the most actively traded stocks thus far this morning.
See also: Crude oil prices to stay elevated in 2H2021
RH Petrogas gained as much as 61.2% to hit 20 cents. It was the second most actively traded stock. The other stocks gained between 2.2% to 33.3%.
Overnight West Texas Intermediate crude, the US benchmark, hit more than US$71 thanks to improved demand outlook in the US and Europe, which, in turn, was underpinned by the gradual reopening of economies as vaccination rates increase.
Chart: Bloomberg
