Movement Alert｜Shandong Molong Falls 8.09% in Regular Trading, Iran Oil Sanctions Waiver Draft Finalized Pressuring Oil and Gas Equipment Sector

Market Focus06-23

On June 23, Shandong Molong fell 8.09% in regular trading, trading at 4.42 HKD/share, with turnover of approximately 90 million HKD.

On the news front, a member of Iran's negotiating delegation stated that the draft regarding Iran's oil sanctions waiver has been finalized. Following the first round of high-level US-Iran talks in Switzerland on June 22, the US Treasury issued a 60-day general license authorizing the production, delivery, and sale of Iranian crude oil, petrochemicals, and petroleum products. The lifting of sanctions is expected to significantly increase global crude supply, with JPMorgan previously forecasting oil prices could fall further to $70/barrel in coming weeks.

The stock had surged over 30% in early June due to Middle East conflict escalation but has since entered a sustained correction channel after triggering an abnormal trading alert with cumulative declines exceeding 20% over three consecutive trading days. Within the Oil and Gas Equipment and Services sector, SINOPEC SSC fell 1.61%, ANTON OILFIELD fell 1.19%, CM-ENERGY fell 7.58%, DALIPAL HLDG was flat, while JUTAL OIL SER rose 6.12%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Following the first round of high-level US-Iran talks in Switzerland on June 22, the US Treasury issued a 60-day general license authorizing the production, delivery, and sale of Iranian crude oil, petrochemicals, and petroleum products. The lifting of sanctions is expected to significantly increase global crude supply, with JPMorgan previously forecasting oil prices could fall further to $70/barrel in coming weeks.</p><p>The stock had surged over 30% in early June due to Middle East conflict escalation but has since entered a sustained correction channel after triggering an abnormal trading alert with cumulative declines exceeding 20% over three consecutive trading days. 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