Oil Search, Woodside And BHP Lead Oil Price Surge

By Glenn Dyer | More Articles by Glenn Dyer

The attacks on Saudi oil facilities on Saturday and price spike yesterday helped the ASX 200 to a modest 4.3 point gain to 6673.5 points yesterday and helped produce an expected jump in the prices of oil and gold producers.

BHP shares jumped 3.15% to $38.30 with the 12% surge in iron ore prices last week playing a big role as well as the price surge of 20% (at one stage during trading) in global oil futures.

Gold futures prices also saw a jump back over $UD1,500 an ounce as well in Asian trading.

Besides BHP, Woodside shares were up 4.3% at $32.70, Oil Search shares added 6.5% to $7.73, Santos shares were up 4.8% to $7.75, Beach Energy shares added 6% to 42.66 and Newcrest shares rose 3.2% to $34.60 to lead gold miners higher.

About Glenn Dyer

Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.

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