Changes in Hong Kong stocks | “Three barrels of oil” collectively rise, Iran's tough oil supply returns to $103, Bank of America says oil prices may rise above $150

The Zhitong Finance App learned that “three barrels of oil” rose collectively. As of press release, CNPC (00857) rose 3.16% to HK$9.645; CNOOC (00883) rose 1.97% to HK$23.8; and Sinopec (00386) rose 0.9% to HK$4.485.

According to the news, the situation in the Middle East continues to be tense, and the settlement price of Brent crude oil has risen to 103 US dollars, ending the previous five consecutive days of decline. Speaking at the UN General Assembly, Iranian President Masood Pezzahizyan said that while Iran is still restricted by sanctions, the country will not allow ships to freely pass through the Strait of Hormuz.

Bank of America strategists said that the average price of Brent crude oil is expected to be around $80 per barrel in 2027, but at the same time, they also point out the challenges brought about by declining strategic reserves and severe shortages in the market in recent years. The bank also said that if Iran continues to consume stocks after a long period of unresolved war, oil prices may rise above $150 per barrel in the future.