Changes in Hong Kong stocks | Oil stocks are the highest, the probability that the US and Iran will launch a new round of conflict is rising, and geopolitical risks are still strong in supporting oil prices

The Zhitong Finance App learned that petroleum stocks had the highest increase. As of press release, CNOOC Oilfield Services (02883) rose 4.66% to HK$7.75; China Petroleum & Chemical (00386) rose 3.48% to HK$4.615; CNPC (00857) rose 3.02% to HK$9.895; and CNOOC (00883) rose 2.25% to HK$23.64.

Ping An Securities pointed out that the geographical impasse in the Middle East is difficult to resolve in the short term. There is a risk that the situation in the US, Iran and Yemen will heat up. The security situation in the Strait of Hormuz has worsened, and the probability that the US will launch a new round of military attacks against Iran is rising. Meanwhile, the situation in Yemen is spiralling, and the Houthis continue to launch attacks on Saudi airports and oil facilities, which have a great impact on Saudi crude oil exports and refining processing. In summary, we believe that the support of geographical risks for international oil prices is still strong.

Huatai Securities previously pointed out that due to repeated geographical conflicts and other factors, the average price of international crude oil is still high in 26Q3. It is expected that the profits of oil and gas extraction companies will increase year on year. Some refining companies will benefit from a relatively good boom in refined oil products/aromatic hydrocarbons, etc., and profits are expected to improve year over year.