A rebound in global oil prices has put local refiners Hengyuan Refining Co Bhd and Petron Malaysia Refining and Marketing Bhd back on the radar of investors as evident in their more than 100% jump in share price in just over a month or so.
Last Friday, Brent oil hit the US$50/barrel mark for the first time since early March, and could inch further north as global economies recover from the Covid-19 pandemic.
As it has been about three years since Hengyuan and Petron reached a peak in their share price, shareholders will be pleased to see the stocks regaining traction since oil rebounded from March lows.