Selected oil and gas stocks advanced against the market trend. At the time of writing, SHANDONG MOLONG (00568) rose by 5.51% to HK$8.81. CNOOC (00883) increased by 0.84% to HK$28.86, while PETROCHINA (00857) gained 0.51%, reaching HK$11.76. The surge follows a sudden escalation of tensions in the Middle East, which drove international oil prices higher. Brent crude for July delivery climbed 5.8% in the previous session, settling at $114.44 per barrel. This marks the first attack on the United Arab Emirates since the temporary US-Iran ceasefire. The United States has initiated a "freedom plan" to assist vessels navigating the Strait of Hormuz. Iran claimed two missiles struck a US warship, a statement later denied by US Central Command. Additionally, recent comments from former President Donald Trump have heightened market anxiety. During an interview, Trump declined to confirm whether the US-Iran ceasefire agreement remains in effect and threatened that Iran would be "wiped off the face of the Earth" if it fired upon US ships near the Persian Gulf or the Strait of Hormuz.
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