Business
Here’s why the Beach Energy (ASX:BPT) share price is up more than 50% over the past month
The Beach Energy Ltd (ASX: BPT) share price is up 1.07% at the time of writing today to $1.89 a share. That doesn’t sound too impressive on its own, but consider this: Beach shares are now up more than 51% over the past month alone.
In fact, since 2 November, the Beach share price is up an extraordinary 64.3%, making it one of the best performers on the S&P/ASX 200 Index (ASX: XJO) in the month of November.
So what’s going on here to prompt such enthusiastic buying pressure?
Beach shares surf an oil wave
There are only two likely reasons why Beach shares have performed the way they have over the past month or so: higher oil prices and the expectation of even higher oil prices.
Since late October, the price of Brent crude oil…
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