Changes in Hong Kong stocks | Oil stocks rise in early trading, geopolitical conflict boosts international oil prices, Goldman Sachs says the impact on the supply of refined oil products is more serious

The Zhitong Finance App learned that petroleum stocks were higher in early trading. As of press release, CNPC shares (00386) rose 3.07% to HK$4.87; CNPC shares (00857) rose 1.91% to HK$10.15; CNOOC Oilfield Services (02883) rose 1.39% to HK$7.275; and CNOOC (00883) rose 1.21% to HK$25.18.

According to the news, Iran warned on Monday that if the US attacks Iranian assets again, Tehran will retaliate, and bluntly stated that the Gulf region's energy infrastructure — including America's oil and gas interests — is vulnerable to attack. The geopolitical conflict is driving up international oil prices, and Brent crude oil is approaching 100 US dollars/barrel.

Goldman Sachs warned that if attacks on shipping in the Middle East escalate further, international oil prices could rise to 120 US dollars/barrel. However, compared to betting directly on crude oil, Goldman Sachs advises investors to take more refined oil products such as European gas and diesel to hedge against geopolitical risks, because the supply shock faced by these markets may be worse than crude oil.