Oil and gas stocks rise further on higher oil prices

PETALING JAYA: Shares of Hengyuan Refining Company Bhd and Petron Malaysia Refining & Marketing Bhd continued to rise by 5.7% and 5.05% respectively this morning, buoyed by rising crude oil prices.
As at 11.15am, Hengyuan’s share price stood at RM17.44 with 3.09 million shares changing hands, while Petron stood at RM14.56 with 596,900 shares traded.
Brent crude price pushed over US$65 per barrel this week, the highest level since mid-2015, after the Organisation of the Petroleum Exporting Countries (Opec) and Russia decided to extend output cuts.
On Oct 28, Brent crude peaked above US$60 per barrel for the first time in more than two years.