Insights

Here’s why the Beach Energy share price is leaping 4% today

We check what’s driving the ASX 200 energy stock higher on Tuesday.
The post Here’s why the Beach Energy share price is leaping 4% today appeared first on The Motley Fool Australia. –

It’s a good day on the market for the Beach Energy Ltd (ASX: BPT) share price despite no word having been released by the company.

The energy company’s stock might be gaining due to higher oil prices. The black liquid’s value lifted overnight, reportedly on the back of supply concerns.

At the time of writing, the Beach Energy share price is $1.6125, 4.03% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) has lifted 1.51% at the time of writing with the S&P/ASX 200 Energy Index (ASX: XEJ) outperforming all other ASX 200 sectors.

Let’s take a closer look at what might be going on with the oil and gas company on Tuesday.

Beach Energy share price gains alongside oil prices

Beach Energy’s stock is lifting today, tracking upwards with both global oil prices and its home sector.

The Brent crude oil price lifted 0.9% to US$114.13 a barrel overnight, according to CommSec. Meanwhile, the West Texas Intermediate crude price rose 0.6% to reach US$110.27 a barrel.

The rise was likely due to concerns oil supply will remain tight amid continued sanctions on Russian oil and despite worries of a recession in the US, according to Reuters.  

The news is probably helping the energy sector outperform on Tuesday. It’s currently 3.33% higher, coming in as today’s best-performing ASX 200 sector.  

Meanwhile, the Beach Energy share price is the sector’s third-best performer, behind Paladin Energy Ltd (ASX: PDN) and Whitehaven Coal Ltd (ASX: WHC). They’ve lifted 9.2% and 7.05% respectively at the time of writing.

Beach’s share price is also likely recovering from yesterday’s 8% tumble. That drop followed news the company is prioritising a new opportunity over the development of an existing reserve.

Today’s gain included, the Beach Energy share price is around 28% higher than it was at the start of 2022. It has also gained approximately 26% since this time last year.

The post Here’s why the Beach Energy share price is leaping 4% today appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

See The 5 Stocks
*Returns as of January 12th 2022

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

5 things to watch on the ASX 200 on Tuesday
Why is the Beach Energy share price tumbling 7% on Monday?
ASX 200 midday update: PointsBet jumps, energy shares sink, Vicinity’s upgrade
Despite recent volatility, the Beach Energy share price has still gained over the past 3 weeks. Here’s why
5 things to watch on the ASX 200 on Friday

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

  • This field is for validation purposes and should be left unchanged.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Free Share Allocation Reward Levels

STARTER

Class
$ 2,500 Deposit & Trade
  • REWARD^
  • 1 x Marathon Oil Corporation (NYSE:MRO)

ECONOMY

Basic
$ 5,000 Deposit & Trade
  • REWARD^
  • 1 x Pfizer Inc (NASDAQ:PFE)

ECONOMY

Standard
$ 10,000 Deposit & Trade
  • REWARD^
  • 1 x Amazon.com Inc (NASDAQ:AMZN)

ECONOMY

Plus
$ 25,000 Deposit & Trade
  • REWARD^
  • 2 x Apple Inc (NASDAQ:AAPL)
POPULAR

BUSINESS

Class
$ 50,000 Deposit & Trade
  • REWARD^
  • 4 x Apple Inc (NASDAQ:AAPL)

FIRST

Class
$ 150,000 Deposit & Trade
  • REWARD CHOICES^
  • 12 x Apple Inc (NASDAQ:AAPL)
  • 2 x Tesla (NASDAQ:TSLA)
^Please refer to the Free Share Promotion Terms and Conditions for details.

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex Securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

FREE AAPL, TSLA, AMZN, PFE or MRO Share(s)
REGISTER TO BE ELIGIBLE FOR FREE SHARES
TRAVEL ACROSS THE FINANCIAL WORLD
Act Fast - Promotion Ends In
Click Here To Get Started
FREE AAPL, TSLA, AMZN, PFE or MRO Share(s)
REGISTER TO BE ELIGIBLE FOR FREE SHARES
TRAVEL ACROSS THE FINANCIAL WORLD
Act Fast - Promotion Ends In
Click Here For More Info