Johannesburg - Sasol [JSE:SOL] was one of the top performers on the JSE on Monday as oil prices jumped to their highest levels in a year-and-a-half on Monday, after Opec and non-Opec producers agreed to cut oil output to ease a global glut.
In early trade Sasol was one of the busiest shares on the JSE in terms of volume and value, and the share price traded 6.29% higher at R405.54. Shares worth more than R100m were traded in the first 30 minutes. It is the first time since October 9 that the share price is above R400.
Sasol’s income from synthetic fuel from coal is determined by the fuel price, and a higher oil price means the group also receives more in dollars for its fuel.