BHP shares jump 6% on oil price spike

BHP shares jump 6% on oil price spike

SYDNEY — Shares of BHP Group Ltd. BHP, +3.15% BHP, +1.88% ( BHP, -0.25%, the world’s biggest mining company by value, jumped as much as 6% to 39.34 Australian dollars (US$27.05) a share early Monday following a surge in crude oil prices.

BHP, a major producer of commodities such as iron ore and steelmaking coal, has a substantial oil-and-gas division that sets it apart from most of its peers and accounted for roughly 15% of the company’s underlying earnings in fiscal 2019.

The jump, which followed a 13% surge in Brent crude prices following an attack on Saudi Arabia’s oil infrastructure, took BHP’s Australian stock to its highest intraday value since Aug. 1.

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