Changes in Hong Kong stocks | Most petroleum stocks are rising, and there is still a risk that the situation in the Middle East will escalate. “Three barrels of oil” Q2 results are expected to fully benefit from rising oil prices

The Zhitong Finance App learned that most petroleum stocks rose. As of press release, CNPC (00857) rose 3.68% to HK$3.68; CNOOC (00883) rose 3.05% to HK$22.94; Kunlun Energy (00135) rose 1.36% to HK$6.7; and CNOOC Services (02883) rose 0.9% to HK$6.74.

According to the news, recently, the military confrontation between the US and Iran in the Strait of Hormuz suddenly escalated. Everbright Securities released a research report saying that the current round of minor clashes between the US and Iran stemmed from the two sides still having fundamental differences over control over the passage control of the Strait of Hormuz. Although technical negotiations based on the previous memorandum of understanding continue, the crude oil market still expressed concerns about the prospects for peace between the US and Iran. The bank anticipates that negotiations between the US and Iran on the right of passage through the strait, sanctions against Iraq, and Iran's nuclear issue will be difficult to reach an agreement in the short term. The military conflict and partial blockade of the strait during this period will still increase the risk of fluctuations in oil prices.

According to the report, the average price of crude oil in 26Q2 was 96.68 US dollars/barrel, up 44.9% year on year and 23.3% month on month. As an oil and gas producer, the Q2 performance of “three barrels of oil” is expected to fully benefit from rising oil prices. It is expected that if the oil price center rises from 85 US dollars/barrel to 100 US dollars/barrel, the operating profit of CNPC's petroleum extraction business is expected to increase by about 4.5 billion yuan, and the net profit of CNOOC to mother is expected to increase by about 24 billion yuan. Looking ahead to the full year of '26, there is still a risk that the situation in the Middle East will escalate, and the oil price center is expected to fluctuate at a high level. At the same time, energy security and security tasks drive “three barrels of oil” to increase storage and production, and the strategic value of “three barrels of oil” is highlighted.