Sasol shines as oil price surge lifts JSE resources

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(Gianluigi Guercia, AFP)
(Gianluigi Guercia, AFP)

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.

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Rand - Dollar
14.15
-0.0%
Rand - Pound
19.96
-0.1%
Rand - Euro
17.21
-0.2%
Rand - Aus dollar
10.98
+0.1%
Rand - Yen
0.13
-0.3%
Gold
1,849.39
+0.3%
Silver
27.62
+0.7%
Palladium
2,906.10
+0.4%
Platinum
1,232.50
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Brent Crude
68.71
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Top 40
60,738
+0.3%
All Share
66,745
+0.2%
Resource 10
69,465
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Industrial 25
83,872
+0.7%
Financial 15
12,589
-0.8%
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