Changes in Hong Kong stocks | Oil stocks are rising across the board, US-Iran negotiations are at an impasse, international oil prices have surged, and upstream oil and gas companies have sufficient profit flexibility

The Zhitong Finance App learned that petroleum stocks were higher across the board. As of press release, CNOOC (00883) rose 3.93% to HK$24.32; CNPC (00857) rose 3.08% to HK$9.86; and Sinopec (00386) rose 1.5% to HK$4.385.

According to the news, the prospects for US-Iran negotiations were once again overshadowed. On Monday, the WTI crude oil futures market was 82 US dollars/barrel, and the oil was close to 88 US dollars/barrel. Trump said that since Iran proposed war compensation, US negotiators have been instructed to claim compensation from Iran. Iran, on the other hand, said it will not conduct negotiations with the US until Trump's term ends. Furthermore, the US strategic oil reserve (SPR) fell by 6.1 million barrels to 298.7 million barrels last week.

Guoxin Securities said that the geographical situation in the Middle East is turbulent, shipping in the Strait of Hormuz and Mander is blocked, and the stable supply of crude oil in the Ghali Sea has shrunk markedly; currently in the summer demand season in the northern hemisphere, low inventories amplify price elasticity. In an environment of high oil prices, upstream oil and gas companies have sufficient profit flexibility, and coal-to-olefin and overseas integrated refining and chemical companies with low cost advantages have benefited significantly.