Higher oil price gives Santos a bounce

Higher oil price gives Santos a bounce
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Santos posted a 9.2 per cent rise in first-quarter revenue, helped by higher liquefied natural gas (LNG) spot prices in Asia as the global economy recovers from last year’s pandemic-induced price lows.
Santos stock bounced around in morning trade but closed steady at $6.92
Increasing energy demand lifted oil prices from the lows of the pandemic-induced oil rout in 2020, which was sparked by global lockdowns.
Adrian Rietschel, site supervisor, at the Santos Carbon Capture storage project in South Australia.  
Kelly Barnes
“Business benefited from higher commodity prices and a low free cash flow break-even oil price. This was despite the three-month lag in oil-linked LNG prices, which should see stronger prices in the second quarter,” CEO Kevin Gallagher said.

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