Sasol says higher oil price, if sustained, bodes well for H2

Chemicals and energy group Sasol indicated on Tuesday that its second-half results would be positively affected should the recent rise in oil prices to levels approaching $70/bbl be sustained for the remainder of its financial year, which runs to June 30. In a trading statement for the six months to December 31, the JSE-listed group noted that the average Brent crude oil price had risen by 19% period on period and that, since December 2017, spot prices had moved closer to the $70/bbl mark. If sustained at these levels, the oil price would have a positive effect on its second-half results.