Hot Petroleum Stocks Surge 10-15% After 2 Sessions, Some Reach Highest Levels This Year

This week, petroleum stocks such as GAS, PLX, PVS, PVD, and BSR surged by 10-15%, signaling a strong recovery due to escalating geopolitical tensions in the Middle East. Some stocks, notably PVS, reached their highest levels since the beginning of the year. This trend coincides with the increase in Brent crude oil prices to $75 per barrel, attributed to data showing a significant drop in U.S. crude oil reserves, boosting demand. SSI Research predicts oil prices will remain at $70-75 per barrel in 2025, with profits for oil companies like BSR, PVD, and PVS expected to grow as production improves and new contracts are secured. Specifically, BSR’s profits could rise by 73% year-on-year, while PVD is expected to grow significantly by about 50%, and PVS by 20%. These factors support a positive outlook for the oil market in the future.

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