ASX 200 shares in travel and energy sectors topped the leaderboards this week.
Investors were quick to bid up travel shares after the White House announced on Monday that it aims to lift travel restrictions for fully vaccinated travellers from 33 countries by November.
This list includes most of Europe, China, India, Brazil, Iran, and South America. Unfortunately, Australia did not make the cut.
The prospect of international travel for the United States could mean increased demand for jet fuel, a positive for the oil and gas sector.
Oil prices held up well this week, sitting around 2-year highs of US$72.9 a barrel.
This follows positive commentary from OPEC’s monthly oil market report and recent supply-side disruptions due to Hurricane Ida.
Here’s a summary of the travel and energy ASX 200 shares that delivered the best returns this week.
This week’s top performing ASX 200 shares
The Corporate Travel Management Ltd (ASX: CTD) share price is up 11.95% this week to $23.70 in late afternoon trade on Friday.
Corporate Travel is one of the first ASX 200 travel shares to top pre-COVID times, currently trading around June 2019 levels.
Flight Centre Travel Group Ltd (ASX: FLT) is another strong performer this week, rallying 10.47% to a 52-week high of $20.36. That said, Flight Centre shares are still trading at a 42% discount to February 2020 levels.
Now, taking a look at ASX 200 shares in the oil and gas industry.
Beach Energy Ltd (ASX: BPT) is the best performing player this week, rising 10.85%.
Beach Energy still has a long way to go before reaching break-even for the year. This follows a 25% plunge on 30 April when the company downgraded its oil reserves.