Insights

The Beach Energy (ASX:BPT) share price is leaping 6% on Wednesday

Today is a good day to be an ASX energy share.
The post The Beach Energy (ASX:BPT) share price is leaping 6% on Wednesday appeared first on The Motley Fool Australia. –

The Beach Energy Ltd (ASX: BPT) share price is soaring today despite no news having been released by the company.

However, it might be being pushed higher by the price of oil, which is on an upwards trajectory today.

Right now, the price of a barrel of Brent Crude oil is up 1.06% to US$75.13. Meanwhile, the price of West Texas Intermediate is up 1.16% to US$71.31 per barrel.

This might be boosting the Beach Energy share price higher. At the time of writing, the energy producer’s shares are going for $1.13 apiece, 4.8% more than they were at yesterday’s close.

Let’s take a closer look at what might be boosting Beach Energy’s stock today.

Energy sector gains alongside price of oil

The Beach Energy share price is soaring today as is the price of oil.

According to reporting by Reuters, the price of oil rose on Tuesday (Wednesday morning AEST) following oil producers’ struggles to provide enough of the black liquid to sate demand.

However, the supply worries were reportedly counterbalanced by Russia’s belief that demand for oil won’t recover to 2019 levels due to the world’s changing energy needs.

Additionally, US oil inventories fell last week as many oil drilling operations are continuing to recover from Hurricane Ida, which halted production in the Gulf of Mexico.

Beach Energy’s stock isn’t the only energy share to record gains today. In fact, most of the S&P/ASX 200 Energy Index (ASX: XEJ) is in the green today.

The sector is being led by the Worley Ltd (ASX: WOR) share price, which is up 5.5%.

Beach Energy share price snapshot

Despite today’s gains, the Beach Energy share price is struggling on the ASX.

It has fallen 39% since the start of 2021. It has also dropped 17% since this time last year.

The post The Beach Energy (ASX:BPT) share price is leaping 6% on Wednesday appeared first on The Motley Fool Australia.

Should you invest $1,000 in Beach Energy right now?

Before you consider Beach Energy, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Beach Energy wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

5 things to watch on the ASX 200 on Wednesday

Here’s why the Beach Energy (ASX:BPT) share price is climbing today
5 things to watch on the ASX 200 on Wednesday

Here are the top 10 ASX shares today

Why the Woodside (ASX:WPL) share price is leaping 6% today

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 Bruce Jackson.

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.

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

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

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 indefinitely, 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.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!