Changes in Hong Kong stocks | Oil stocks continue to rise, and the tension in the Middle East compounded by a sharp drop in US inventories by three barrels of oil is expected to fully benefit from rising oil prices

The Zhitong Finance App learned that petroleum stocks continued to rise. As of press release, CNOOC (00883) rose 2.64% to HK$24.12; CNPC (00857) rose 1.81% to HK$10.11; Kunlun Energy (00135) rose 1.39% to HK$7.31; and Sinopec (00386) rose 0.91% to HK$4.44.

According to the news, the US-Iran conflict has once again escalated, and there are signs that it is spreading to neighboring regions. Furthermore, according to the latest EIA data, commercial crude oil inventories plummeted by 7.2 million barrels last week, and SPR decreased by 3.8 million barrels to 307.7 million barrels during the same period, the lowest level in more than 40 years. As the situation in the Strait of Hormuz continues to be tense, market doubts about whether the US can continue to play a role as a global energy stabilizer are rising.

Everbright Securities released a research report saying that the “three barrels of oil” performance is expected to fully benefit from rising oil prices. We expect that if the oil price center rises from 85 US dollars/barrel to 100 US dollars/barrel, the operating profit of CNPC's oil extraction business is expected to increase by about 28 billion yuan, the operating profit of Sinopec'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.