Why Origin, Qantas, Webjet, & Westpac shares are storming higher

In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to record another solid gain. The benchmark index is currently up 0.85% to 6,700 points.

Four shares that have climbed more than most today are listed below. Here’s why they are storming higher:

The Origin Energy share price is up 4.5% to $5.28. Investors have been buying the energy company’s shares after oil prices jumped higher overnight. According to Bloomberg, on Tuesday night the WTI crude oil price climbed 4.3% to US$44.92 a barrel and the Brent crude oil price rose 3.8% to US$47.81 a barrel. Prices were given a boost by vaccine hopes and news that President Trump will allow the transition of the Biden administration to commence.

Qantas Airways Limited