The Origin (ASX:ORG) share price is up 5% in less than a week. Here's why

Shares in the Aussie "gentailer" had a strong week

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The Origin Energy Ltd (ASX: ORG) share price has edged higher on Friday in yet another positive day for investors. Shareholders would have watched closely as the company's value has climbed more than 5% since Tuesday morning.

At the time of writing, the Origin share price is up 0.33% trading at $4.50 after hitting an intraday high of $4.53.

Here's what appears to be driving shares in one of Australia's largest energy generators and retailers right now.

Pilbara Minerals share price ASX lithium shares A stylised clean energy battery flexes its muscles, indicating a strong lift in share price for ASX energy companies

Image source: Getty Images

Why the Origin share price is up 5% since Tuesday

Shares in the Aussie energy company were smashed earlier in the week. In fact, the Origin share price opened Tuesday morning more than 5% lower than where it started on Monday.

It was far from the only company in the S&P/ASX 200 Index (ASX: XJO) to have a rough start. The broad market index was hammered as fears over the collapse of Chinese real estate giant Evergrande Group rocked markets.

Things certainly turned around in the latter part of the week for Origin and its shareholders. Easing fears over the fallout from Evergrande, at least for the moment, helped boost markets higher. It wasn't the only good news moving Aussie energy shares through to the end of the week.

Crude oil prices have been jumping this week on the back of larger than expected inventory drawdowns and rising demand for energy. That comes as Australia and the world eye a re-opening after tight COVID-19 restrictions.

Rising Brent and WTI crude oil futures helped boost Aussie energy shares higher this week. The Origin share price was no exception, climbing 5.15% since Tuesday's open. The integrated energy group has exposure to oil and gas as an explorer, producer, generator and retailer.

It means the Aussie energy group now boasts a $7.9 billion market capitalisation. However, it's not all good news for shareholders with the Origin share price still down 7% year to date and underperforming the ASX 200.

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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