Top energy stocks outperform global peers in past 12 months
Two of them recorded gains of as much as 117.9%.
Four of Singapore’s five most traded energy stocks have outperformed their global peers over the past 12 months, all beating the median 21.5% decline for global energy stocks, according to data from SGX Research.
Both Catalist-listed Rex International and Mainboard-listed Interra Resources have bucked the median decline, both posting respective gains of 177.9% and 69.7%. Meanwhile, Mermaid Maritime PCL has declined 1.4%, whilst AusGroup and China Aviation Oil have dropped 10.7% and 22.4%, respectively.
Rex International has been the country’s 40th most traded stock this year. On 17 July, it noted that the Ministry of Oil and Gas in Oman had approved the Field Development Plan for the Yumna Field and that the Group will participate in a well to be drilled in Norway in late August.
Demand-driven declines in energy markets have seen the price of WTI Crude Oil futures decline from $76.94 (US$55.88)/bbl to $56.85 (US$41.29)/bbl over the past 12 months. Meanwhile, Brent Crude Oil saw a decline from $86.99 (US$63.18)/bbl on 24 July 2019 to $59.68 (US$43.34)/bbl on 24 July.