The Origin Energy share price has seemingly been caught up in the energy sector’s brilliant day.
The post Why the Origin Energy (ASX:ORG) share price is climbing on Tuesday appeared first on The Motley Fool Australia. –
The Origin Energy Ltd (ASX: ORG) share price is in the green despite no news having been released by the company.
However, the S&P/ASX 200 Energy Index (ASX: XEJ) is leading the market today, having gained a whopping 3.84%.
The energy sector’s gains are particularly impressive given the S&P/ASX 200 Index (ASX: XJO) is currently 0.24% lower than its previous close, having fallen 16.4 points today.
At the time of writing, the Origin Energy share price is $4.55, 2.48% higher than its previous close.
Let’s take a closer look at what might be sending the energy producer and retailer’s share price higher on Tuesday.
Origin Energy’s having a great day on the ASX
The Origin Energy share price is taking off today, as are those of nearly all participants of the ASX 200 energy sector.
Right now, the index is being led by the Beach Energy Ltd (ASX: BPT) share price, which has gained 6.7% today.
The Origin Energy share price’s 2.4% gain sees it comfortably positioned as the sector’s fifth-best performer on Tuesday.
The ASX 200 energy sector’s sea of green might be being driven by another sea of green – that of energy commodities.
Right now, the price of West Texas Intermediate oil is up 0.6%. At the same time, that of Brent Crude oil is up 0.5%.
The price of natural gas is also boosting higher today, having gained 0.3% at the time of writing.
Origin Energy share price snapshot
Today’s gains haven’t quite been enough to drag Origin Energy’s stock out of its slump.
Right now, the company’s share price is 5% lower than it was at the start of 2021. It is also 3% lower than it was this time last year.
Should you invest $1,000 in Origin Energy right now?
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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.