New York, Jan 14, 2026, 14:40 EST — Regular session
- Sasol Limited’s U.S.-listed shares climbed roughly 6% in afternoon trading, hitting a new 12-month peak
- Oil climbed further on concerns over Iran’s supply, as the rand strengthened alongside gold hitting record highs
- BP and Sasol are pushing for a sharp hike in the regulated tariff at a petroleum storage facility in Pretoria
Sasol Limited’s U.S.-listed shares jumped roughly 6.4% to $7.52 on Wednesday, hitting $7.53 at one point—marking their best level in at least a year. This gain stood out against a weaker broader U.S. market in afternoon trading. (Reuters)
The jump matters because Sasol’s earnings hinge on crude prices and the rand: oil influences fuel and chemical costs, while currency moves affect how dollar-based sales translate locally. Traders are also watching South Africa’s fuel demand, which has shown erratic data.
This week stands out because the forces at play are tugging in opposite ways. Oil prices are up — usually a boost — yet the rand has gained strength, cutting into the currency translation advantage for South African exporters.
Oil prices climbed for the fifth day in a row Wednesday, driven by fears of supply disruptions tied to Iran, even as U.S. data revealed a sharp increase in inventories. Jorge Montepeque, managing director at Onyx Capital Group, said, “We are in a period of geopolitical instability and potential supply disruption.” (Reuters)
The South African rand edged higher in early trading, supported by record highs in gold prices and weaker-than-expected U.S. inflation data. “The Fed is widely expected to pause on any further interest rate hikes,” said Andre Cilliers, currency strategist at TreasuryONE. He added that the rand is likely to remain rangebound as it reacts to global developments. (Reuters)
BP and Sasol have approached South Africa’s energy regulator seeking a 105% hike in tariffs for their petroleum storage facility in Pretoria for the 2026 fiscal year, Business Day reported. The increase would affect a regulated fee. Both companies pointed to a roughly 30% drop in volumes since 2020 and flagged that diesel demand from Eskom’s open-cycle gas turbines—a backup power source—might decline further as the grid stabilizes. (Co)
The filing comes as South Africa’s National Energy Regulator announced a broader consultation on multi-year tariff applications for petroleum storage, loading, and pipeline facilities. This move increases the likelihood of closer examination of pricing and volumes throughout the fuel logistics chain. (Org)
Sasol operates where energy meets chemicals, selling fuels across Southern Africa and chemicals worldwide. This dual role means the stock can trade like an oil play one day, then shift to behaving like a chemical cycle proxy the next. As a result, the shares often move sharply on crude oil news, currency fluctuations, and changes in regulated cost recovery.
The setup cuts both ways. U.S. government data revealed a sharp rise in crude and gasoline inventories, underscoring that physical supply can pressure prices even as geopolitical tensions lift risk premiums. Goldman Sachs maintained its forecast this week for lower average oil prices in 2026, citing an expected supply-driven surplus, though it cautioned that volatility may remain elevated. (Reuters)
Investors should watch for Sasol’s quarterly business performance update on Jan. 22. The company will then release its interim financial results a month later, on Feb. 23, per its investor calendar. (Sasol)
