Hong Kong stock concept tracking|Oil prices continue to rise, leading companies in the crude oil industry chain benefit (with concept stocks)

Zhitongcaijing · 2d ago

The Zhitong Finance App learned that Saudi Arabia's East-West oil pipeline was attacked and the diplomatic negotiations between Iran and the Gulf countries were postponed. The two major shocks fermented simultaneously, causing the global energy market to face the most severe supply pressure in decades.

Analysts Bernstein warned that the price of Brent crude could further soar to $120 to $150 per barrel from the current level.

Brent crude oil futures rose 3.7% overnight, hitting above $108 per barrel, then fell slightly to $107.70; WTI futures reported around $103.

According to a previous report by Xinhua News Agency, the regional conference scheduled to be held in the southern Omani city of Salalah on the 14th has been postponed.

Oman's Foreign Minister Badr Albusaidi said on social media on Sunday evening that the delay was “to seek consensus” and reaffirmed the parties' commitment to promoting regional dialogue and cooperation.

Xiaomo recently released an energy market review saying that although some oil transportation has resumed in the Strait of Hormuz, there is still great uncertainty about whether it can continue and be fully opened.

CICC released a research report saying that the Brent oil price fluctuation center has continued to rise since the third quarter, and the quarterly center of 90 US dollars/barrel predicted in the bank's June mid-year outlook is being fulfilled.

Recently, the geographical situation in the Middle East has once again escalated. Damage to Gulf oil exports has returned to more than 10 million b/day, Brent oil prices have exceeded 100 US dollars/barrel, and spot oil prices in the North Sea and Middle East are close to 120 US dollars/barrel.

Global onshore oil reserves returned to the elimination channel in August/September, similar to the situation in April of this year. Considering that current oil inventory levels are lower than in the previous period, the bank suggests that short-term crude oil premiums are more flexible.

Crude oil industry chain:

CNOOC (00883), Sinopec (00386), CNPC (00857)

Oil service companies:

CNOOC Oilfield Service (02883), Sinopec Oil Service (01033), Shandong Molong (00568), Anton Oilfield Service (03337)