Oil shareholders read / New signal for petrochemical group
According to Tejarat News, the stock market grew by more than 6,000 units yesterday, reaching the range of 1,281,000 units. Experts say rising oil prices and the deal could benefit the group of petroleum products.
On the other hand, the feed rate of petrochemicals is set by the government. Some experts consider this pricing to be positive for the stock market.
“Currently, the price of gas for petrochemical feedstocks is $ 1.33 per cubic meter in Europe, but we set a good figure so that investors do not have to worry,” said Oil Minister Javad Oji, referring to the gas price cap for petrochemicals. The feed rate ceiling has been approved by the government. (ILNA)
Referring to the goal of 100% growth in the production capacity of petrochemical products by the end of the Eighth Development Plan, the Deputy Minister of Oil explains: According to forecasts, the export of petrochemical products will be equivalent to 14 billion dollars by the end of the year. (IRNA)
Brent crude fell 36 cents, or 0.4 percent, to $ 92.33 a barrel on Monday after hitting a seven-year high of $ 94. West Texas Intermediate fell 26 cents, or 0.3 percent, to $ 91.06 a barrel. (stamp)
“Because the specter of Iranian oil entering the market has affected the oil market and future crude oil prices have fallen,” analysts said, noting that negotiators are optimistic about the progress of the negotiations and believe the sanctions will be lifted. (Imena)
What do stock market experts say?
Stock market analysts say that setting the price of petrochemical feed by the government could be to the benefit of the petrochemical group by the end of this year.
On the other hand, the price of oil has reached more than $ 90. The possibility of an Iranian agreement in the Vienna talks has also increased.
Analysts say fruitful negotiations will pave the way for oil sales. This is in the medium term in favor of the petroleum products group.
According to stock exchange experts, the future of the two groups of petroleum products and petrochemicals is clear.